Business Cycles: From John Law to Chaos Theory

by Lars Tvede

Lars Tvede's story moves back in time to the Scottish gambler and financial genius, John Law, and then on to the distracted Adam Smith, the stockbroker Ricardo, the investment banker Thornton, the extrovert Schumpeter, the speculator Jay Gould and many others. Gradually we reach the computer jugglers of the modern day who, with giant networks of equations, try to solve the same questions that have attracted the attention of classical economists through the centuries.
Throughout this volume, business cycle theories are used to explain actual events, as they unfold for the reader. We are told how theoretical thinking has reflected the economists' own experiences of hyper-inflations, depressions, speculation orgies and liquidity squeezes. The reader can follow the narrative to discover how economists often thought that problems had been solved until new data changed the economic picture once again.

Genres: Economics, Business, Finance

Paperback

First published February 1, 1997

Reviews

[Terry · Rating 4 out of 5]

Good summary of influential economists of history, and their theories about business cycles. However, it would be better if author can offer more real life examples. I like the Chicago property market section, stock market crashes in 1987, and the creation of paper currency. Lastly, as the author pointed out himself, there’s simply too few samples to generate a great theory. Human business history is too short and has changed too much. Therefore every cycle is different.

[Phil · Rating 4 out of 5]

Well written and informative but too scientific as the depth of knowledge needed for this book was deep.

[Ethan J · Rating 4 out of 5]

写的真好啊，可以说是很好的宏观经济启蒙了，从货币的简史谈到解析历史上的一些经济危机，分析了房地产、股票、各种资产与宏观经济的关系，真的算是高屋建瓴，真是感叹这本书为啥不出现在大学必修课里面啊！

[Nam KK · Rating 4 out of 5]

A comprehensive book studying markets cycles from the perspectives of academic economists rather than of financial markets investors. Depending on who you are and what are your interests, you might like the book or not. I definitely have a good time reading the book - the author writing style is funny enough. His efforts make reading economics (for cycles) not terribly boring. Still, it took a lot of efforts from me to finish the book. I think I might pick Ray Dalio for another study on cycles though - it would be more to the point as it is from a financial investor.

[至 荀 · Rating 5 out of 5]

这样的金融史写的非常好。大学时代读书都是一本西方经济学，里面很多理论就和公示一样的枯燥。后来才知道有亚当.斯密。但是对于他理论的形成还是一无所知。读了这本书才慢慢了解这些理论形成的社会基础和理论之间的联系。那些大家相互借鉴，相互学习。根据自身的认知逐渐形成理论化。来解决当时时代的困境。才明白这些理论的基础和适用性。以及后人怎么发现问题，进而改进、优化。

[RorSpike · Rating 5 out of 5]

经济周期无法避免，只能顺其自然

[Aeon Chang · Rating 4 out of 5]

I really appreciate all the research Lars has conducted to write this book. It is funny, factual and easy to read.

With people incessantly talking about the imminent crisis, I think it is time to re-read it again.

[Leo · Rating 5 out of 5]

沒看過這麼正點的書
經典 易懂 十分實用

[Will]

excellent