Comparative Analysis of Juglar, Kitchin, Mitchell and Kuznets’ Approaches to Economic Fluctuations
The concept of economic fluctuations is a phenomenon that began to gain popularity among economists since the 19th century with the capitalist system. Since there is no complete consensus on the definition of the business cycle, different definitions have been made. The ups and downs that occur in economic variables and affect every unit of the economy are expressed as economic fluctuations. The reasons for the emergence of economic fluctuations have been evaluated by various economic schools in different dimensions. These fluctuations, which were caused by the capitalist system itself before the Keynesian revolution and which were indispensable for the development of the system and economic growth, were later discussed from a broad perspective with the inclusion of expectations in the theory.
In this study, Clement Juglar, Joseph Kitchin, Wesley Clair Mitchell, and Simon Smith Kuznets’ explanations of economic fluctuations will be examined comparatively in historical context.
Key Words: Business Cycles, Juglar Cycles, Kitchen Cycles, slump, the period of prosperity
Jel Codes: B, B3, B4, B15
