In 1926 Adolf Löwe suggested that business cycle theories are fundamentally incompatible with the idea that the system tends towards equilibrium. Hayek, his disagreement with such a conclusion notwithstanding, recognised that the issue is central to business cycle theorizing, and agreed with...

In a paper read in 1848 before the Dublin Statistical Society, James Anthony Lawson propounded a theory of commercial crises based on a credit-overtrading-speculation mechanism. This view was quite widespread at the time, but it was couched in an original reinterpretation of the causal...

In 1926 and 1936 Sraff and Keynes attacked the methodological core of traditional economic theory by showing that the premises of partial equilibrium analysis were mutually inconsistent. this paper aims to show that Harrod neglected Sraffa and Keynes's logical arguments, and only admitted that...

<italic>This article examines the literature on the periodical recurrence of economic crises up to the 1840s, illustrating how awareness of this phenomenon was far more widespread than the few existing histories of business cycle theories indicate, that observations of this phenomenon began much earlier...</italic>

In 1851 the French Social economist Auguste Ott discussed the problem of gluts and commercial crises, together with the issue of distributive justice between workers in co-operative societies. He did so by means of a 'simple reproduction scheme' sharing some features with modern intersectoral...

This article compares the problems arising in the course of the editing of the Interwar Papers and Correspondence (1919-1939) of Roy Harrod and of the materials relating to the preparation (1934-1937) of Gottfried Haberler's inquiry on Prosperity and Depression led for the League of Nations. In...