Are the recurring recessions of the capitalist world merely short-term adjustments to changing economic circumstances in a system that tends, in general, toward equilibrium? In this accessible study of the business cycle, Howard Sherman makes a powerful case that recessions and painful involuntary unemployment are endogenous to capitalism. Drawing
Reviews
One of Choice's Outstanding Academic Titles for 1991 "This excellent book offers a comprehensive empirical analysis of the business cycle... [Sherman's] approach is a welcome complement to the heretofore excessively abstract modeling of the business cycle in recent years."--Choice
