Introduction

Derek H. Aldcroft and Peter Fearon
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Derek H. Aldcroft: University of Leicester
Peter Fearon: University of Leicester

A chapter in British Economic Fluctuations, 1790–1939, 1972, pp 1-73 from Palgrave Macmillan

Abstract: Abstract Most economic history texts tend either to neglect cyclical fluctuations altogether or else they skip rather lightly over the subject.1 This is regrettable given the fact that fluctuations in economic activity constitute one of the two main facets of macro-economic behaviour, the second being the study of long-term growth. Indeed, the cycle and the trend are often regarded as inseparable entities, though opinion is still far from unanimous on this issue.2 However, the comparative neglect of the subject does mean that students of Britain’s past development have tended to concentrate their attention on issues of long-run growth and on institutional changes and have paid lip-service to the question of instability.

Keywords: Interest Rate; Monetary Policy; Business Cycle; Money Supply; Domestic Investment (search for similar items in EconPapers)
Date: 1972
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-15463-0_1

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DOI: 10.1007/978-1-349-15463-0_1

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