Business Cycles: From John Law to the Internet Crash

Přední strana obálky
Psychology Press, 2001 - Počet stran: 350

Why do we experience business cycles? What creates them? Is it mass psychology, or phenomena in the management of business? Are the banks to blame or should we be looking to the unions and the politicians? Lars Tvede's story moves back in time to the Scottish gambler and financial genius, John Law, and then on to the distracted Adam Smith, the stockbroker Ricardo, the investment banker Thornton, the extrovert Schumpeter, the speculator Jay Gould and many others. The computer jugglers of the modern day, with giant networks of equations, try to solve the same questions that have attracted the attention of classical economists throughout the centuries. Throughout this volume, business cycle theories are used to explain actual events. Theoretical thinking has reflected the economist's own experiences of hyper-inflations, depressions, speculation orgies and liquidity squeezes. The reader can follow the narrative to discover how economists often thought that problems had been solved until new data changed the economic picture once again.

 

Obsah

Paper Money
3
Cash Payment
19
The First Economists
25
From Crash to Crash
47
Five Pioneers
63
The First Business Cycle Theories
71
The Archeologists
73
Fisher Babson and the Quantity Theory of Money
91
Brains of Steel
169
The Discovery of Deterministic Chaos
179
Instability and Money
205
Business Cycles and Asset Prices
217
War Games
233
Trends TurboChargers and Turning Points
247
Growing Up
265
The PuzzleSolvers
285

Keynes and Von Mises
103
The Great Depression
113
Schumpeters Synthesis
129
A Hidden World
141
The Simulators
143
List of Important Events in Business Cycle Theory
301
Typical Sequence of Events of a Business Cycle
317
Bibliography
331
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