ABSTRACT

This conclusion presents some closing thoughts on the concepts covered in the preceding chapters of this book. The book presents the empirical association between business cycles and economic crises, on the one hand, and the economics literature on the other. Specifically, its research question built on the "panics produce texts" hypothesis, that is the suggestion that economic crises and subsequent downswings induce increased writing on those events such as theoretical and empirical work on business cycles and economic crises, whereas prosperous economic times have the opposite effect. Business cycles in historical economic development were identified in various time series for economic variables such as income per capita, investment activity and consumer prices in the United States. The economics literature on business cycles and economic crises was identified via proxy: first and foremost, sets of papers featuring relevant terms such as "business cycle" were selected, and their frequency counted, from the journal literature archived on JSTOR.