In the mid 1850s, the French economist, Clément Juglar, presented one of the first expressions of the idea of the economic cycle. In 1862, he published Des crises et de leur retour périodique en France, en Angleterre et aux Etats-Unis. He devoted the rest of his working life to providing better theoretical and empirical foundations for his intuitions on the ten-year prosperity-crisis-depression cycle which, for him, seemed to mark the rhythm of modern economic evolution. In 1889, he published the heavily augmented and revised second edition of his magnum opus on crises.Readers will find this 1889 edition in this volume accompanied by two short texts synthesizing the analyses which Juglar first presented in the early 1860s and then some thirty years later: namely, the articles “crises commerciales” dealing with commercial crises which were published in M. Block’s Dictionnaire général de la politique (1863) and, in 1891, in the Nouveau dictionnaire de l’économie politique (L. Say and J. Chailley). |