Purpose – The purpose of this paper is to compare and contrast three-factor models of boom and bust from Henry George, Knut Wicksell and Mason Gaffney. Design/methodology/approach – The approach takes the form of an analysis and discussion and mathematical appendix. Findings – It was found that gaffney modifies and incorporates features of both George and Wicksell into his own model. Practical implications – The works of George, Wicksell and Gaffney are highly relevant, especially given the current economic crisis. Originality/value – The paper should be useful both to historians of economic thought and contemporary economists. It brings together ideas that have been neglected in recent years, and contributes to the understanding of economic crises.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 36 (2009) Issue (Month): 4 (March) Pages: 412-427 Download reference. The following formats are available: HTML
(with abstract),
plain text
(with abstract),
BibTeX,
RIS (EndNote, RefMan, ProCite),
ReDIF