“A DEFINITE CONCEPTION OF THE FORCES UNDERLYING THE BUSINESS CYCLE”
SMITH, Edgar Lawrence. Common Stocks and Business Cycles. New York: William-Frederick, 1959. Octavo, original blue cloth, original dust jacket. $750.
First edition of the work that introduced the theory of the Decennial Pattern, in scarce original dust jacket.
An evidence-based analysis of the causes of cyclical economic behavior. This is also the first work to put forth the theory of the “Decennial Pattern,” which states that certain years of the decade are economically stronger than others, particularly those ending in 5. Owner signatures.
Book fine, dust jacket near-fine, with slight rubbing and a few areas of toning. A most attractive copy.