Roscher and the theory of crisis

Abstract

Streissler considers Roscher′s theory of crisis to be highly original and important. Schumpeter, on the other hand, considers it only a rehash of the ideas of others. Examines this contradiction, beginning with a reflection on the essential elements of the debates on Keynes, Say′s law and classical economics. Continues by analysing the statements of German economists before Roscher on the issues of the general glut controversy. Ends with a closer inspection of Roscher′s own theory of crisis.

Citation

Hagemann, H. (1995), "Roscher and the theory of crisis", Journal of Economic Studies, Vol. 22 No. 3/4/5, pp. 171-186. https://doi.org/10.1108/EUM0000000003981