The Trade Cycle: An Essay.

HARROD, R. F.:

Published by Oxford: Clarendon Press, 1936., 1936

About this Item

First Edition. ix, 1 leaf, 234 pp, 1 leaf. Original cloth. Spine and lower edges of covers slightly rubbed, else Very Good, without dust jacket. 'Even as [Keynes's] General Theory appeared on the bookstalls, Harrod's The Trade Cycle: An Essay combined John Maurice Clark's old 'acceleration principle' and with Keynes' new 'multiplier' to produce a theory of the rate of change of aggregate demand' (Mark Blaug, Great Economists Since Keynes, p. 83). 'A delay of two years, (1928 to 1930) in the publication by Keynes, then editor of the Economic Journal of Harrod's original 'marginal revenue curve' denied the Oxford economist the primacy in this field. This sad turn of circumstance was to repeat itself several times in Harrod's career. Another independent discovery by Harrod (1931), effectively the long-run envelope of short-run average cost curves, also went unrecognized - the credit being awarded to Viner. In that same article, he laid out the analytical foundations for the theory of imperfect competition - but Joan Robinson took the prize. The laurels for his remarkable multiplier-accelerator model, developed in his Trade Cycle (1936), were given to the mathematically-expressed versions by Samuelson and Hicks.'. Seller Inventory # 14082

Bibliographic Details

Title: The Trade Cycle: An Essay.

Publisher: Oxford: Clarendon Press, 1936.

Publication Date: 1936

Binding: Hardcover

Condition: Very Good

Dust Jacket Condition: No Jacket

Edition: 1st Edition