Business Cycle Theory, Part II Volume 7: Selected Texts, 1860-1939

Introduction, Walter Bagehot, ‘Why Lombard Street is Often Very Dull and Sometimes Extremely Excited’, extract from Lombard Street, Frederick B. Hawley, extract from Enterprise and the Productive Process, Nicholas Johannsen, extracts from A Neglected Point in Connection with Crises, Frederick Lavington, extracts from The Trade Cycle, Arthur C. Pigou, extracts from Industrial Fluctuations, Richard F. Kahn, ‘The Relation of Home Investment to Unemployment’, Alvin H. Hansen and Herbert Tout, ‘Annual Survey of Business Cycle Theory: Investment and Saving in Business Cycle Theory’, Friedrich A. von Hayek, ‘Capital and Industrial Fluctuations –A Reply to a Criticism’, Dennis H. Robertson, ‘Industrial Fluctuation and the Natural Rate of Interest’, Gottfried Haberler, ‘Some Reflections on the Present State of Business Cycle Theory’, David G. Champernowne, ‘Unemployment, Basic and Monetary: the Classical and the Keynesian’, Bertil Ohlin, ‘Some Notes on the Stockholm Theory of Savings and Investment’, Richard F. Kahn, ‘The League of Nations Inquiry into the Trade Cycle’, Gottfried Haberler, extracts from Prosperity and Depression: A Theoretical Analysis of Cyclical Movements, Page Conversions

In the mid-nineteenth century the business cycle was increasingly recognised as a recurrent phenomenon