Business Cycles: History, Theory and Investment Reality

by Lars Tvede

This entertaining book describes the global history of economic fluctuations and business cycle theory over more than 300 years. It explains the core of the problem and shows how cycles can be forecast and how they are managed by central banks. The book concludes with detailed studies of how sub-sectors of stocks, bonds, hedge funds, private equity funds, gold, exchange rates, real estate, commodities, art and collectibles fluctuate over different categories of business cycles.

Genres: Economics, Business, Finance

512 pages, Hardcover

First published May 26, 2006

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.

[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