First issued in 1937 and then revised in 1957, Prosperity and Depression focuses on the task of analyzing existing theories of the business cycle and deriving a synthetic account of the nature and possible causes of economic fluctuations. The application, as far as possible, of quantitative tests to the various causal hypotheses - influences the manner in which the problem of economic cycles is approached in Haberler's book.The first part on "The Systematic Analysis of the Theories of the Business Cycle" gathers various hypotheses of explanation, to test their logical consistency and their compatibility with one another and with accepted economic principles. It gives a well rounded picture of the possible explanations of economic fluctuations. The second part, "Synthetic Exposition Relating to the Nature and Causes of Business Cycles" argues that there are many points where no definitive solution can be proposed, but have a number of possibilities. The choice between these can then be made only on the basis of empirical investigations.Haberler argues that theoretical reasoning supported only by broad facts as one happens to know without special statistical or historical investigations can create intelligent questions, but it cannot definitely answer them. By analyzing various theories and explanations of the business cycle, this book clarifies a number of issues presupposed. The difference between the theories analyzed is not as complicated as is sometimes believed. In fact it is shown how theories which seem prima facie to contradict one another can be reconciled. David Felix's new introduction underlines the continuing importance of this classic.

First issued in 1937 and then revised in 1957, "Prosperity and Depression" focuses on the task of analyzing existing theories of the business cycle and deriving a synthetic account of the nature and possible causes of economic fluctuations. The application, as far as possible, of quantitative tests to the various causal hypotheses--influences the manner in which the problem of economic cycles is approached in Haberler's book. The first part on "The Systematic Analysis of the Theories of the Business Cycle" gathers various hypotheses of explanation, to test their logical consistency and their compatibility with one another and with accepted economic principles. It gives a well rounded picture of the possible explanations of economic fluctuations. The second part, "Synthetic Exposition Relating to the Nature and Causes of Business Cycles" argues that there are many points where no definitive solution can be proposed, but have a number of possibilities. The choice between these can then be made only on the basis of empirical investigations. Haberler argues that theoretical reasoning supported only by broad facts as one happens to know without special statistical or historical investigations can create intelligent questions, but it cannot definitely answer them. By analyzing various theories and explanations of the business cycle, this book clarifies a number of issues presupposed. The difference between the theories analyzed is not as complicated as is sometimes believed. In fact it is shown how theories which seem "prima facie" to contradict one another can be reconciled. David Felix's new introduction underlines the continuing importance of this classic.

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Dieses Werk stellt sioh die Aufgabe, ein moglichst geschlossenes Bild der Haupt- probleme des internationalen Wirtschaftsverkehres zu entwerfen. Besonderes Gewicht wurde dabei auf dietheoretische Fundierung und Durcharbeitung, sowie auf densyste- matischen Aufbau gelegt; denn gerade daran fehlt es in der deutschen Literatur, wahrend deskriptive Arbeiten iiber zahlreiche Spezialfragen der weltwirtschaft- lichen Zusammenbange und der Handelspolitik in groBer Zahl vorhanden sind. Von der besonders in der angelsachsischen Literatur vorherrschenden ttbung, mit den hochsten Stufen der Abstraktion zu beginnen, die sogenannte "reine" Theorie des internationalen Handels an die Spitze zu stellen und ihr die Lehre yom Geld- mechanismus als Anhangsel folgen zu lassen, bin ich abgegangen. Ich beginne sofort (Abschnitt B des ersten Teiles) mit der Darstellung der monetaren Probleme, d. i. des Mechanismus, der die Hohe der Wechselkurse bestimmt, die Zahlungsbilanz ausgleicht und den Transfer einseitiger Wertleistungen bewirkt. Bei der in Ab- schnitt C des ersten Teiles folgenden Erorterung der "reinen" Theorie des inter- nationalen Handels habe ich mich bemiiht, aIle wissenschaftlich haltbaren Lehr- gebaude in einer systematischen Darstellung zusammenzufassen. Das war deshalb weitgehend moglich, weil die verschiedenen Theorien auf diesem Gebiete einander nicht ausschlieBen, sondern zu einem Teil verschiedene Aspekte der weltwirt- schaftlichen Zusammenhange behandeln und zum anderen Teil sich nur ver- schiedener Darstellungsmethoden bedienen oder sich auf verschiedenen Abstrak- tionsstufen bewegen (Naheres siehe Kapitel2 2 und KapitellO).

Dieses Werk stellt sich die Aufgabe, ein moglichst geschlossenes Bild der Haupt probleme des internationalen Wirtschaftsverkehres zu entwerfen. Besonderes Gewicht wurde dabei auf die theoretische Fundierung und Durcharbeitung, sowie auf den syste matischen Aufbau gelegt; denn gerade daran fehlt es in der deutschen Literatur, wahrend deskriptive Arbeiten uber zahlreiche Spezialfragen der weltwirtschaft lichen Zusammenhange und der Handelspolitik in grosser Zahl vorhanden sind. Von der besonders in der angelsachsischen Literatur vorherrschenden Ubung, mit den hochsten Stufen der Abstraktion zu beginnen, die sogenannte "reine" Theorie des internationalen Handels an die Spitze zu stellen und ihr die Lehre vom Geld mechanismus als Anhangsel folgen zu lassen, bin ich abgegangen. Ich beginne sofort (Abschnitt B des ersten Teiles) mit der Darstellung der monetaren Probleme, d. i. des Mechanismus, der die Hohe der Wechselkurse bestimmt, die Zahlungsbilanz ausgleicht und den Transfer einseitiger Wertleistungen bewirkt. Bei der in Ab schnitt C des ersten Teiles folgenden Erorterung der "reinen" Theorie des inter nationalen Handels habe ich mich bemuht, alle wissenschaftlich haltbaren Lehr gebaude in einer systematischen Darstellung zusammenzufassen. Das war deshalb weitgehend moglich, weil die verschiedenen Theorien auf diesem Gebiete einander nicht ausscbliessen, sondern zu einem Teil verschiedene Aspekte der weltwirt schaftlichen Zusammenhange behandeln und zum anderen Teil sich nur ver schiedener Darstellungsmethoden bedienen oder sich auf verschiedenen Abstrak tionsstufen bewegen (Naheres siehe Kapitel 2 2 und Kapitel 10)."

This is a new release of the original 1960 edition.

This is a new release of the original 1947 edition.

Kessinger Publishing is the place to find hundreds of thousands of rare and hard-to-find books with something of interest for everyone!

Kessinger Publishing is the place to find hundreds of thousands of rare and hard-to-find books with something of interest for everyone!

Kessinger Publishing is the place to find hundreds of thousands of rare and hard-to-find books with something of interest for everyone!

LARGE PRINT EDITION More at LargePrintLiberty.com
New edition with an introduction by Roger Garrison and an index. Booms and busts are not endemic to the free market, argues the Austrian theory of the business cycle, but come about through manipulation of money and credit by central banks. In this monograph, Austrian giants explain and defend the theory against alternatives. Includes essays by Mises, Rothbard, Haberler, and Hayek. In his later years, Professor Haberler distributed many of these monographs to friends and associates.

Gottfried Haberler's work on the theories of classical international trade and comparative cost, as well as his definitive synthesis of business cycle theory, have made a major impact on economic knowledge and understanding. He also participated actively in the post-war analysis of the causes of and cures for inflation, particularly in relation to questions of international monetary reform.Featuring some of his most important and interesting essays on international finance, international trade and the history of economics written over a period of more than 60 years, these two volumes eloquently advocate his liberal approach to the international economic order. Volume I, Essays on International Economics, features papers on currency convertibility, the international monetary system and trade policy and controls. Volume II, Money, Cycles and Related Themes, includes material on money and business cycles and the history of economics, with papers on Fisher, Schumpeter and Marxian economics. These volumes present in an accessible form carefully edited selections of Professor Haberler's articles and papers, as well as an up-to-date bibliography. The set will be an essential companion for any economist with an interest in international trade, inflation and monetary theory.