Disproportionality and Business Cycle from Tugan-Baranovskij to Spiethoff

Journal of Reviews on Global Economics, 4, 2015, 108-119

12 Pages Posted: 15 Sep 2015

See all articles by Carmelo Ferlito

Carmelo Ferlito

INTI International University and Colleges; Institute for Democracy and Economic Affairs (IDEAS)

Date Written: 2015

Abstract

In the second half of the 19th century, German-speaking countries developed a very intense economic debate about crises. Mikhail Ivanovich Tugan-Baranovskij’s analysis may be considered as the point of transition between different crisis theories and the development of organic thinking about the business cycle. It was an integral part of the German debate and had a decisive influence on Arthur Spiethoff’s elaboration – perhaps the most organic analysis of the cycle developed within the German historical school. Arthur Spiethoff’s influence was recognized by important authors such as Friedrich A. von Hayek and Joseph A. Schumpeter. Both the Austrian economists admitted their debt toward the German scholar in elaborating their business cycle theories. The present paper aims to illustrate one of the important roots in Spiethoff’s approach, an approach that in turn became a crucial reference for other important economists.

Keywords: German historical school, business cycles, Spiethoff, Tugan-Baranovskij, disproportionality, Marxism

JEL Classification: B14, B15, B24, B25, E32

Suggested Citation

Ferlito, Carmelo, Disproportionality and Business Cycle from Tugan-Baranovskij to Spiethoff (2015). Journal of Reviews on Global Economics, 4, 2015, 108-119, Available at SSRN: https://ssrn.com/abstract=2660159

Carmelo Ferlito (Contact Author)

INTI International University and Colleges ( email )

No. 3, Jalan SS15/8
Subang Jaya, Selangor 47500
Malaysia

Institute for Democracy and Economic Affairs (IDEAS) ( email )

F4 Taman Tunku, Bukit Tunku
Kuala Lumpur, 50480
Malaysia

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