The British trade cycle of 1929–37

  • Donald MacDougall


There exists no one measure that indicates adequately the course of a business cycle. There are many possible indices of activity, while any attempt to measure changes in general economic well-being is confronted with many difficulties. The various indices of activity and prosperity do not always move in the same way or in the same degree, and in order to obtain a general picture it is necessary to examine the changes that have taken place from various points of view.


Food Price Freight Rate Export Trade Insured Person Wage Index 
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  1. 15.
    See John Inman, ‘The Terms of Trade,’ The Manchester School, 1935, VoL VI, No. I, for a discussion.Google Scholar
  2. 17.
    See Taussig, International Trade, and Economic Journal, March, 1925.Google Scholar

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© Sir Donald MacDougall 1975

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  • Donald MacDougall

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