The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Long Swings in Economic Growth

  • C. Freeman
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_766

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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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • C. Freeman
    • 1
  1. 1.