"My Harvard teacher Joseph Schumpeter’s 1939 two-volume treatise is almost a parody of eclecticism: It described short cycles under the Kitchin-Crum terminology; then the good old business cycle of allegedly eight to ten years’ periodicity was labeled Juglar cycles; and of course there were also the long waves of Kondratieff and the Sunday newspaper supplements. But that was not the whole of it. In between Juglars and Kondratieffs came Kuznets’s intermediate cycles in construction and immigration, with an alleged approximate periodicity of 18 to 20 years. The tortured epicycles of pre-Copernicus Ptolemaic astronomy had nothing on Schumpeter."
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Politicians from AustriaAcademics from AustriaGovernment ministersFinance ministersEconomists from Austria
Original Language: English
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Paul Samuelson, "Summing Up On Business Cycles: Opening Address" in Jeffrey C. Fuhrer, Scott Schuh (eds), Beyond Shocks: What Causes Business Cycles? (1998)
https://en.wikiquote.org/wiki/Joseph_Schumpeter
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Joseph Schumpeter
Joseph Alois Schumpeter (February 8, 1883 – January 8, 1950) was an economist from Austria and an influential political scientist.
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