The Robertsonian Theory of Industrial Fluctuation — An Outline

  • John R. Presley


In this chapter the skeleton of the Robertsonian theory of fluctuation is examined. Subsequent chapters will concentrate more fully upon important aspects of this theory, and trace the origins and influences upon it, putting the flesh upon the bones.


Marginal Utility Consumer Good Capital Good Gestation Period American Political Science Review 
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  1. 2.
    DHR, ‘Some Material for a Study of Trade Fluctuations’, Journal of the Royal Statistical Society, (January 1914) pp. 159–173.Google Scholar
  2. 15.
    See, for example, T. Wilson, ‘Robertson and Effective Demand and the Trade Cycle’, EJ, Vol. 63, (September 1953) pp. 553–78.Google Scholar
  3. 29.
    Cf. K. Wicksell, Lectures on Political Economy, Vol. II, (London: Routledge & Kegan Paul, 1935) p. 209, and G. Cassel, op cit., Ch. XIX, p. 80. See also DHR, BPPL, p. 2.Google Scholar
  4. 31.
    DHR believed that crises would result irrespective of the kind of government, ‘good or bad, left or right’ — even if business confidence were to be inspired more by one kind of government than another. See DHR, ‘Is Another Slump Coming’, The Listener, (July 28th) 1937.Google Scholar

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© John R. Presley 1978

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  • John R. Presley

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