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One seeking to understand the recurrent ebb and flow of economic activity characteristic of the present day finds these numerous explanations both suggestive and perplexing. All are plausible, but which is valid? None necessarily excludes all the others, but which is the most important? Each may account for certain phenomena ; does any one account for all the phenomena ? Or can these rival explanations be combined in such a fashion as to make a consistent theory which is wholly adequate? (en) |
