Irving Fisher's rejection of the «so-called business cycle»
This paper contrasts Irving Fisher’s monetary analysis of Xuctuations in output and employment with the competing cyclical approach to analysing such Xuctuations, with particular attention to a series of articles in the 1920s in which Fisher challenged the widely prevailing notion that truly periodic economic cycles existed. The response to Fisher by Wesley Mitchell, the leading business cycle researcher of the time, is also examined.
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