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Business Cycles.
by SCHUMPETER, Joseph Alois
- Used
- Hardcover
- first
- Condition
- See description
- Seller
-
London, United Kingdom
Payment Methods Accepted
About This Item
New York: McGraw-Hill Book Company, Inc.,, 1939. First edition, fourth printing (following the first of the same year), of one of Schumpeter's most significant contributions to economic theory, among the seminal texts of business cycle literature. As with his earlier works, Schumpeter placed the entrepreneur at the centre of events, which was perhaps why it "met with a less-than-enthusiastic reception. The monumental nature of this study, which included extensive theoretical, historical, and statistical work, placed it beyond the full comprehension of most economists. Its length, combined with the rising tide of Keynesian economics, put it beyond the interests of the profession as well. Colleagues, however, could readily comprehend and respect the amount of effort and scholarly seriousness that went into the project" (ANB). Schumpeter rejected the Keynesian view that business cycles were the result of fluctuations in aggregate demand. Instead, "waves of innovation" coming from entrepreneurs cause fluctuations, increasing economic activity, which peaks and then declines as the economy is saturated. In the resultant recession phase, the economy adjusts to the innovations. New innovations then restart the process. These cycles are a beneficial and necessary part of the economic process, Schumpeter held, in contrast to the Keynesian aim of engineering stable economic growth. So too, Schumpeter continues his glorification both of the entrepreneur as the key agent of change and of capitalism as a positive process of "creative destruction". Provenance: "Aaronovitch", presumably Sam Aaronovitch (1919-1998), a Communist economist and head of the economics department at South Bank Polytechnic, with his neat ink signature on the front free endpaper of vol. I. Two volumes, octavo. Original red cloth, spines ruled and lettered on black ground in gilt, border to covers in blind. With 60 charts in the text. Infrequent faint pencil underlining to contents. Light bumping and rubbing, minor browning and foxing to endpapers and edges, splash of blue ink to outer edge of vol. I: a very good copy. Swedberg S.010.
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Details
- Bookseller
- Peter Harrington
(GB)
- Bookseller's Inventory #
- 170279
- Title
- Business Cycles.
- Author
- SCHUMPETER, Joseph Alois
- Book Condition
- Used
- Binding
- Hardcover
- Place of Publication
- New York: McGraw-Hill Book Company, Inc.,
- Date Published
- 1939
- Note
- May be a multi-volume set and require additional postage.
Terms of Sale
Peter Harrington
All major credit cards are accepted. Both UK pounds and US dollars (exchange rate to be agreed) accepted. Books may be returned within 14 days of receipt for any reason, please notify first of returned goods.
About the Seller
Peter Harrington
Biblio member since 2006
London
About Peter Harrington
Since its establishment, Peter Harrington has specialised in sourcing, selling and buying the finest quality original first editions, signed, rare and antiquarian books, fine bindings and library sets. Peter Harrington first began selling rare books from the Chelsea Antiques Market on London's King's Road. For the past twenty years the business has been run by Pom Harrington, Peter's son.
Glossary
Some terminology that may be used in this description includes:
- Gilt
- The decorative application of gold or gold coloring to a portion of a book on the spine, edges of the text block, or an inlay in...
- Octavo
- Another of the terms referring to page or book size, octavo refers to a standard printer's sheet folded four times, producing...
- First Edition
- In book collecting, the first edition is the earliest published form of a book. A book may have more than one first edition in...
- Rubbing
- Abrasion or wear to the surface. Usually used in reference to a book's boards or dust-jacket.
- Edges
- The collective of the top, fore and bottom edges of the text block of the book, being that part of the edges of the pages of a...
- Cloth
- "Cloth-bound" generally refers to a hardcover book with cloth covering the outside of the book covers. The cloth is stretched...