US business cycles 1954-2020 : sources, symptoms, solutions / John T. Harvey.

Format:

Book

Author/Creator:

Harvey, John T., 1961- Author.

Language:

English

Subjects (All):

Business cycles--United States--History--20th century.

Business cycles.

Business cycles--United States--History--21st century.

Physical Description:

1 online resource (xvii, 185 pages) : digital, PDF file(s).

Edition:

1st ed.

Place of Publication:

Cambridge ; New York, NY : Cambridge University Press, 2025.

Summary:

What causes cyclical downturns that wreak havoc on our lives? Most economists will say that they result from random external shocks and that, without these, the economy would sail along beautifully. In US Business Cycles 1954-2020, John Harvey argues that overwhelming evidence points to an internal dynamic, one related to the behavior of economic agents that generates what we call a business cycle. He draws on the work of past Post-Keynesian and Institutionalist scholars to create a current theory of business cycles, one that treats them as systemic and not the result of random chance. He addresses not only unemployment and bankruptcies that are the immediate consequence of the business cycle, but critical social challenges like climate change and elderly care. Examining an extensive history of US fluctuations, Harvey fills a long-standing void within the discipline by offering an alternative theory of income, employment, and price determination.

Contents:

Introduction : the sorry state of modern macro theory

Theoretical foundation aka what causes business cycles?

Additional factors : inflation, monetary and fiscal policy, the stock market, and secular stagnation

US business cycles 1954 through 2020

Policy and conclusions.

Notes:

Title from publisher's bibliographic system (viewed on 02 Jan 2026).

Description based on publisher supplied metadata and other sources.

ISBN:

1-009-69354-9

1-009-69350-6

OCLC:

1569639112