London and the Trade Cycle

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London and the Trade Cycle

Hawtrey, R. G.

The American economic review, 03/1929, Volume: 19, Issue: 1

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The trade cycle is the subject of such persistent and voluminous controversy that it would seem difficult to say anything about it witlh hope of gaining general acceptance. Nevertheless the main characteristics of the cycle are known empirically, and are not dependent upon any particular theory of its nature and causes. If controversialists did not agree on what these main characteristics are, then they would be open to the criticism that their differences really arose from their not all discussing the same thing. This paper describes the agreed characteristics of the cycle.

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