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Economic Crises

Economic Crises


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About the Book

This historic book may have numerous typos, missing text or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1900. Not illustrated. Excerpt: ... CHAPTER IX THE PSYCHOLOGY OF CRISES Political economy is in an important sense applied psychology. As this science treats of a portion of the social activity of men, it must receive as a part of its premises the statement of the psychologist regarding the individual and social psychology of man, and apply it in the explanation of economic society. As we have already seen, the causes of economic crises are numerous. No sufficient explanation of them can be made which does not take into account the working of the industrial and legal machinery which society employs in achieving its purposes, but neither can any view of crises be sufficient which leaves out of account the human nature operating through this machinery and exhibiting itself in it. Thus far, few writers have touched in any adequate way upon this aspect of the subject, although there are not lacking numerous assertions that its study is necessary and fundamental. Mr. John Mills, who, in his pamphlet entitled "Credit Cycles," has contributed more than any other person to this part of the theory, says, "The subject of commercial fluctuations will acquire a new dignity if it be found striking its roots far below the level of its physical particulars, and proving itself cognate with the sciences of mind."1 In similar vein Yves Guyot expresses himself: "In economy, as in all other social phenomena, psychological facts play an important part. It is because they have not been sufficiently taken into account that we have had so many erroneous explanations of commercial crises."2 In the explanation of the depression which follows a crisis, Horace White observes: "The pendulum will swing back in time -- these undulations of trade, of alternately high and low prices, of alternate activity and depression in busine...


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Product Details
  • ISBN-13: 9781150211973
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 66
  • Spine Width: 4 mm
  • Width: 189 mm
  • ISBN-10: 1150211970
  • Publisher Date: 01 Jan 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 136 gr


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