The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Bouniatian, Mentor (1877–1969)

  • Mauro Boianovsky
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_2065

Abstract

Bouniatian argued that productive forces cannot be transferred to the future just through the accumulation of capital goods; the choice of production methods determines an equilibrium relation between aggregate consumption and the capital stock. Economic fluctuations are explained by both the increase of the proportion of income saved when output is growing and the period of time necessary for the production of capital goods. The temporary separation between investment and consumption decisions is reflected in a more than proportional increase of capital goods. Changes in the marginal utility of consumption and capital goods and a generalization of the old King’s law explain changes in the price level.

Keywords

Acceleration principle Aftalion, A Aggregate consumption Bouniatian, M Business cycles Capital accumulation Depreciation Exogenous and endogenous business cycle theories Great Depression Hobson, J. A Keynes, J. M King’s law Lauderdale, Eighth Earl of Mitchell, W. C Mummery, A. F Overproduction Quantity theory of money Saving–investment equality Sticky wages Subjective theory of value Tugan- Baranovsky, M. I Underconsumptionism Weber–Fechner law 

JEL Classifications

B31 
This is a preview of subscription content, log in to check access.

Bibliography

  1. Aftalion, A. 1908–9. La réalite des surproductions générales: essai d’une théorie des crises générales périodiques. Revue d’Économie Politique 22: 696–706; 23: 81–117, 201–29, 241–59. Trans. R. Leverdier in Business cycle theory – Selected texts 1860–1939, ed. M. Boianovsky, vol. 6. London: Pickering and Chatto, 2005.Google Scholar
  2. Keynes, J.M. 1930. A treatise on money, vol. 1. London: Macmillan.Google Scholar
  3. Lauderdale, J. 1804. An inquiry into the nature and origin of public wealth, and into the means and causes of its increases. Edinburgh: Archibald Constable.Google Scholar
  4. Mitchell, W. 1913. Business cycles. Berkeley: University of California Press.Google Scholar
  5. Mummery, A., and J. Hobson. 1889. The physiology of industry. London: J. Murray.Google Scholar
  6. Tugan-Baranovsky, M. 1894. Studien zur Theorie und Geschichte der Handelskrisen in England. Jena: Fischer, 1901.Google Scholar

Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Mauro Boianovsky
    • 1
  1. 1.