Methods in Economics
Many disputes have arisen among economists regarding the exclusive—or nearly exclusive—use of one of the two great methodological approaches: induction and deduction. Such exclusivism has often led to exaggerated, flawed, or …
The economy as activity as science
Economic Activity
Every being tends, by nature, toward its own preservation and fulfillment, avoiding anything that may distort or destroy it. Among beings…
Economic Science
Economic activities may be, depending on the sphere in which they occur: (a) purely individual, when carried out by an isolated individual without connection to others; (b) family-based, when they occur within a household wit…
Inflation in france and the poincaré experience
French inflation did not reach the catastrophic proportions of the German case, but it persisted until 1926. The evolution of wholesale prices and the industrial production index in France shows that the 1920 crisis temporari…
The american expansion
During the years 1922–1929, a true construction boom took place, covering both housing and factories. During this period, two new industries expanded rapidly: the automobile industry and the electricity industry. Both generat…
Evolution of economic structures and international economic relations
The industrial expansion of the late nineteenth century reshaped trade flows and altered the global economic hierarchy. The rapid industrialization of the United States, Germany and Japan not only increased domestic output bu…
Industrial development and the evolution of the international economy
The structural evolution that profoundly altered British and American influence in international economic relations is also reflected in the evolution of world trade and the international movement of capital.
Crisis of 1907 and the 1897–1908 cycle
We now enter the upward phase of a new Kondratieff cycle that would last from 1896 to 1920. The crisis of 1900 represents only a minor turning point in the American expansion of 1896–1907, while it marks a major turning point…
The causes of the crisis and of the depression
It is important to reflect on the causes of the 1929 crisis and the subsequent depression in order to better understand the scope of the economic recovery policies implemented by governments.
La extensión de la depresión
La depresión de los años treinta se da por el peso de la economía americana en el mundo. La producción …