Encyclopedia of Early Modern History Online

Get access

Economic cycle (circulation process)
(1,158 words)

1. Concept

Modern economic theory uses the term economic cycle first in reference to a particular relationship between consumers and producers or households and businesses, which is characterized by contrary flows of goods and finance. While businesses supply households with goods and services and pay them wages as employers, the consumers supply producers with the production factor of labor…

Cite this page
Köster, Roman, “Economic cycle (circulation process)”, in: Encyclopedia of Early Modern History Online, Editors of the English edition: Graeme Dunphy, Andrew Gow. Original German Edition: Enzyklopädie der Neuzeit. Im Auftrag des Kulturwissenschaftlichen Instituts (Essen) und in Verbindung mit den Fachherausgebern herausgegeben von Friedrich Jaeger. Copyright © J.B. Metzlersche Verlagsbuchhandlung und Carl Ernst Poeschel Verlag GmbH 2005–2012. Consulted online on 19 March 2024 <http://dx.doi.org/10.1163/2352-0272_emho_COM_030417>
First published online: 2015
First print edition: 20170626



▲   Back to top   ▲