TURNING POINTS IN BUSINESS CYCLES by Leonard P. Ayres

TURNING POINTS IN BUSINESS CYCLES

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KIRKUS REVIEW

Many regard Mr. Ayres, of the Cleveland Trust, as one of the country's soundest economists, and his monthly reports are widely distributed. Unlike most of his fellows, he argues that business cycles do not repeat, but that each is an entity, caused by undulating fluctuations of the inflow of new capital into business, with downturns caused by cessation of such inflow. He analyzes various economic theories, -- pump priming, veterans' bonus, the Townsend Plan, increasing consumer purchasing power, regulations of banking laws -- and each channel leads back to his main thesis. Not for the average layman, but for the research analyst and the economic historian.

Pub Date: Dec. 12th, 1939
Publisher: Macmillan