Opinion on the Study

Gordon Fletcher
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Gordon Fletcher: University of Liverpool Management School

Chapter 4 in Dennis Robertson, 2006, pp 45-70 from Palgrave Macmillan

Abstract: Abstract In Chapter 2 we saw that Robertson’s first major work, A Study of Industrial Fluctuation (1915), drew on historical evidence and on continental theory to produce an explanation of the trade cycle that represented a significant departure from previous thinking in Britain. What follows is a survey of opinion on the Study as expressed by commentators over the years. There was general recognition that it represented a tremendous personal achievement for Robertson and that it gave ample testimony of his intellectual precocity. It was also given credit for introducing ideas which were unfamiliar in Britain and for drawing its authority from an appeal to the facts. Beyond that, however, views as to its precise contribution and as to the validity of its conclusions differed widely. To put the various comments in a suitable context, we begin with a fuller account of Robertson’s theory of the cycle.

Keywords: Marginal Utility; Capital Good; Consumption Good; Real Business Cycle; Monetary Theory (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-59590-3_5

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DOI: 10.1057/9780230595903_5

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