Abstract
The notion of half-century long swings in the growth of industrial capitalism was advanced by several economists, including Pareto, already before World War I, on the basis of empirical observations of long-term trends in the 19th-century statistics of prices, interest rates and trade. It was, however, a Dutch Marxist, Van Gelderen (1913) who was the first to attempt a systematic description and explanation of the phenomenon. He used the expressions ‘spring tide’ and ‘ebb-tide’ to describe the alternating periods of buoyant expansion and relative stagnation which he claimed to detect.
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Freeman, C. (2018). Long Swings in Economic Growth. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_766
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DOI: https://doi.org/10.1057/978-1-349-95189-5_766
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