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Published in:
2018 | OriginalPaper | Chapter
Wesley Mitchell’s Business Cycles After 100 Years
Author : Walter A. Friedman
Published in: New Perspectives on the History of Political Economy
Publisher: Springer International Publishing
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Abstract
This paper revisits economist Wesley Mitchell’s classic text, Business Cycles (1913), and assess its impact on economic and political thought in the years prior to the Keynesian Revolution. It describes the key contributions of the book and outlines Mitchell’s career and progression as an economist. It emphasizes the book’s influence on three groups—empirical economists, economic forecasters, and policy makers. For all three, in different ways, Mitchell’s Business Cycles seemed to offer new and exciting possibilities for measuring, predicting, and even controlling economic fluctuations.