Consumption and the Trade Cycle

Lionel Robbins

Chapter 8 in Economic Science and Political Economy, 1997, pp 117-132 from Palgrave Macmillan

Abstract: Abstract The object of this paper is two-fold. Firstly, it examines critically certain theories which attribute trade depression to a deficiency of consumption. Secondly, it indicates very briefly and very tentatively what seems to me to be a more correct view of the relationship between consumption and the downward turn of trade. Neither the criticisms nor the constructive suggestions make any pretentions to originality. I have simply tried to adapt to the subject which I have chosen views which, if not yet universally accepted, today command the adherence of economists of standing in many different parts of the world.2 In doing this, however, I have endeavoured to avoid the use of unfamiliar terminology. This has imposed considerable limitation on the attainment of complete precision, but, for various reasons, it seemed worth attempting.

Keywords: Trade Cycle; Price Level; Social Utility; Correct View; Spending Power (search for similar items in EconPapers)
Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-12761-0_9

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DOI: 10.1007/978-1-349-12761-0_9

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