TY  - CHAP
AB  - Business cycle theory is normally described as having evolved out of a previous tradition of writers focusing exclusively on crises. In this account, the turning point is seen as residing in Clément Juglar's contribution on commercial crises and their periodicity. It is well known that the champion of this view is Schumpeter, who propagated it on several occasions. The same author, however, pointed to a number of other writers who, before and at the same time as Juglar, stressed one or another of the aspects for which Juglar is credited primacy, including the recognition of periodicity and the identification of endogenous elements enabling the recognition of crises as a self-generating phenomenon. There is indeed a vast literature, both primary and secondary, relating to the debates on crises and fluctuations around the middle of the nineteenth century, from which it is apparent that Juglar's book Des Crises Commerciales et de leur Retour Périodique en France, en Angleterre et aux États-Unis (originally published in 1862 and very much revised and enlarged in 1889) did not come out of the blue but was one of the products of an intellectual climate inducing the thinking of crises not as unrelated events but as part of a more complex phenomenon consisting of recurring crises related to the development of the commercial world – an interpretation corroborated by the almost regular occurrence of crises at about 10-year intervals.
VL  - 28 Part 1
SN  - 978-0-85724-060-6, 978-0-85724-059-0/0743-4154
DO  - 10.1108/S0743-4154(2010)000028A010
UR  - https://doi.org/10.1108/S0743-4154(2010)000028A010
AU  - Besomi Daniele
ED  - Jeff E. Biddle
ED  - Ross B. Emmett
PY  - 2010
Y1  - 2010/01/01
TI  - “Periodic crises”: Clément Juglar between theories of crises and theories of business cycles
T2  - A Research Annual
T3  - Research in the History of Economic Thought and Methodology
PB  - Emerald Group Publishing Limited
SP  - 169
EP  - 283
Y2  - 2024/05/06
ER  -