Description
Book SynopsisFirst issued in 1937 and then revised in 1957, Prosperity and Depression focuses on the task of analyzing existing theories of the business cycle and deriving a synthetic account of the nature and possible causes of economic fluctuations. The application, as far as possible, of quantitative tests to the various causal hypotheses - influences the manner in which the problem of economic cycles is approached in Haberler''s book.The first part on The Systematic Analysis of the Theories of the Business Cycle gathers various hypotheses of explanation, to test their logical consistency and their compatibility with one another and with accepted economic principles. It gives a well rounded picture of the possible explanations of economic fluctuations. The second part, Synthetic Exposition Relating to the Nature and Causes of Business Cycles argues that there are many points where no definitive solution can be proposed, but have a number of possibilities. The choice between these can then be mad
Table of ContentsI: Systematic Analysis of the Theories of the Business Cycle; 1: Preliminary Remarks; 2: The Purely Monetary Theory; 3: The Over-Investment Theories; 4: Changes In Cost, Horizontal Maladjustments And Over-Indebtedness as Causes of Crises And Depressions; 5: Under-Consumption Theories; 6: “Psychological Theories”; 7: Harvest Theories. Agriculture And The Business Cycle; 8: Some Recent Discussions Relating To The Theory of The Trade Cycle; II: Synthetic Exposition Relating To The Nature And Causes of Business Cycles; 9: Definition And Measurement of The Business Cycle; 10: The Process of Expansion And Contraction; 11: The Turning-Points. Crisis And Revival; 12: International Aspects of Business Cycles; III: Monetary And Real Factors Affecting Economic Stability; 13: Critique: Tendencies In Modern Economic Theory
