Besomi, Daniele - In: The European Journal of the History of Economic Thought 15 (2008) 4, pp. 611-639
John Wade formulated, in 1826 and 1833, two models of cyclical fluctuations most likely to be the first in the literature. They are fully endogenous, based on a cobweb-like mechanism affecting not agricultural production, as was customary at the time, but manufacture. Wade's earlier model relies...