The Cycles of Speculation

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The Cycles of Speculation discusses declining prices despite plentiful money and unchanged dividends, asking why those conditions did not prevent the decline. The discussion describes serious business depression as more anticipated than realized, while noting that 1904 brought no material recovery in prices. The account attributes the steady price advance from 1896 to 1902 to recovery from the great depression of 1893 and rising property values in a prosperous, growing country.

The discussion of commodity prices warns against assuming that gradually advancing prices necessarily mean gradually advancing interest rates. The explanation instead says that a sustained ratio of advance means sustained high rates of interest and nothing more.

Economics

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Thomas Gibson Open the author page

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Book facts

Author: Thomas Gibson
Reading time: About 3 hours
Pages: 97
Language: English
Genre: Economics
Formats: PDF, EPUB, Read online

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