Chapter XXVII: Epilogue
1. THE AGE OF TYRANNY
“My conception of the terribles simplificateurs who will come over our old Europe is not pleasant, and now and then in my imagination I can see these ruffians already in flesh and blood before my eyes. I will describe them to you when we drink our pint of beer in September.”
Jacob Burckhardt, letter to F. von Preen, 24th July, 1889.
Appendix: General Sociological Causes of the Economic Disintegration and Possibilities of Reconstruction
By ALEXANDER RÜSTOW, Ph.D.
Professor at the University of Istanbul
BY an impressive convergence of evidence the whole preceding investigation has led to the conclusion that the present catastrophic disintegration of world economy is only a manifestation of a more general disintegration of the whole economic structure and, at the same time, only a symptom of a general social and psychological decomposition.
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Crises & Cycles
Crises And Cycles
CRISES AND CYCLES
Title Page
CRISES AND CYCLES
BY
WILHELM RÖPKE, Ph.D.
PROFESSOR IN THE UNIVERSITY OF ISTANBUL
FORMERLY PROFESSOR IN THE UNIVERSITY OF MARBURG
ADAPTED FROM THE GERMAN AND REVISED
BY
VERA G. SMITH, B.Sc.(Econ.), Ph.D.
LONDON EDINBURGH GLASGOW
WILLIAM HODGE & COMPANY, LIMITED
Copyright Page
MADE AND PRINTED IN GREAT BRITAIN
BY
WILLIAM HODGE AND COMPANY, LTD.
LONDON EDINBURGH GLASGOW
Preface
IN writing this book the author has set himself a rather ambitious and comprehensive task. In recent years the literature on economic crises and cycles has become abounding, and at the same time the discussion on the most controversial points has, under the influence of the urgent problems of practical policies, been carried ever further and deeper, especially among the English economists who have unmistakably taken the lead in this field of economic science.
Chapter I. Introduction
This volume has been written during the worst and most widespread economic crisis ever recorded in the annals of economic history, that is to say, at a time when the problem of economic crises and cycles may claim to be one of preponderating interest, when the intolerable burden of the depression is threatening to endanger the very existence of the economic system, and when many people believe that it is a question not of a crisis within the capitalist system, but of a crisis of capitalism itself.
Chapter II. The Phenomena of Economic Fluctuations
§ 1. GENERAL SURVEY.
Anyone who realizes that all life, whether regarded from the point of view of Nature or of society, is governed by a certain rhythm, will instinctively suppose that it cannot be otherwise in the economic sphere. That it is so need therefore cause no surprise.
