Business Cycles: From John Law to Chaos Theory

Business Cycles: From John Law to Chaos Theory

by Lars Tvede
     
 

ISBN-10: 9057020653

ISBN-13: 9789057020650

Pub. Date: 02/01/1997

Publisher: Taylor & Francis

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. Gradually we reach the computer jugglers of the modern day who, with giant networks of equations, try to…  See more details below

Overview

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. Gradually we reach the computer jugglers of the modern day who, with giant networks of equations, try to solve the same questions that have attracted the attention of classical economists through the centuries. Throughout this volume, business cycle theories are used to explain actual events, as they unfold for the reader. We are told how theoretical thinking has reflected the economists' 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.

Product Details

ISBN-13:
9789057020650
Publisher:
Taylor & Francis
Publication date:
02/01/1997
Pages:
275
Age Range:
18 Years

Table of Contents

1Paper Money3
2Cash Payment19
3The First Economists25
4John Stuart Mill and The Crash of 187347
5Two Pioneers59
6The Archaeologists67
7Fisher, Babson and the Quantity Theory of Money81
8Keynes and Von Mises91
9The Great Depression101
10Schumpeter's Synthesis117
11The Simulators131
12Brains of Steel147
13The Discovery of Deterministic Chaos155
14Dark Islands and Black Boxes181
15Maelstroms and Master Minds203
16War Games211
17Trends, Turbo-Chargers and Turning Points225
18Milton Friedman's "Trilemma"237
19The Edge of Chaos241
App. 1List of Important Events in Business Cycle Theory247
App. 2List of the Largest Financial Crises in History253
Notes257
Bibliography265
Index273

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