Encyclopedia of Early Modern History Online

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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…

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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 06 December 2023 <http://dx.doi.org/10.1163/2352-0272_emho_COM_030417>
First published online: 2015
First print edition: 20170626

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