The business cycle : growth and crisis under capitalism / Howard J. Sherman.

Format:

Book

Author/Creator:

Sherman, Howard J., author.

Series:

Princeton Legacy Library

Princeton Legacy Library ; 1190

Language:

English

Subjects (All):

Business cycles.

Capitalism.

Physical Description:

1 online resource (0 p.)

Edition:

Course Book

Place of Publication:

Princeton, New Jersey : Princeton University Press, [1991]

Language Note:

In English.

Summary:

Are the recurring recessions of the capitalist world merely short-term adjustments to changing economic circumstances in a system that tends, in general, toward equilibrium? In this accessible study of the business cycle, Howard Sherman makes a powerful case that recessions and painful involuntary unemployment are endogenous to capitalism. Drawing especially on the work of Wesley Clair Mitchell, Karl Marx, and John M. Keynes, Sherman explains why the nature of the business cycle produces serious economic loss and misery during its contraction phase, just as it produces growth in its expansion phase.Originally published in 1991.The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Contents:

Frontmatter

Contents

List of Figures

List of Tables

Preface

PART ONE: Overview

CHAPTER 1. The Waste of the Business Cycle

CHAPTER 2. Measuring the Business Cycle

CHAPTER 3. History of the Business Cycle

CHAPTER 4. Endogenous and Exogenous Cycle Theories

PART TWO: The Basic Model-Demand and Supply over the Cycle

CHAPTER 5. Consumption

CHAPTER 6. Investment: The Profit Hypothesis

CHAPTER 7. The Multiplier-Accelerator Model

CHAPTER 8. Income Distribution: The Utilization-Unemployment Hypothesis

CHAPTER 9. Demand-Side Theories: The Underconsumption Hypothesis

CHAPTER 10. Cost of Plant, Equipment, and Raw Materials

CHAPTER 11. Overinvestment and Reserve Army Theories of the Business Cycle: A Walk on the Supply Side

CHAPTER 12. Profits and Profit Rates

CHAPTER 13. Profit Squeeze (or Nutcracker) Theory of the Cycle: A Production-Realization Hypothesis

PART THREE: More Realistic Approximations

CHAPTER 14. Credit and Financial Crises

CHAPTER 15. Monopoly Power and Business Cycles

CHAPTER 16. The International Economy and Business Cycles

CHAPTER 17. Government Fiscal Behavior and the Business Cycle

PART FOUR: Policy

CHAPTER 18. Can Reform Policies Lessen the Business Cycle under Capitalism?

CHAPTER 19. Can the Business Cycle Be Eliminated?

Appendixes

References

Index

Notes:

Description based upon print version of record.

Description based on online resource; title from PDF title page (publisher's Web site, viewed 08. Jul 2019)

Description based on print version record.

Includes bibliographical references (pages [417]-432) and index.

ISBN:

9780691635767

0691635765

9781400862047

1400862043

OCLC:

922698804