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Ragnar Frisch -
Oscillations
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The majority of the economic oscillations which we encounter seem to be explained most plausibly as free oscillations.
Ragnar Frisch
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In reality the cycles we have the occasion to observe are generally not damped. How can the maintenance of the swings be explained? Have theses dynamic laws deduced from theory and showing damped oscillations no value in explaining the real phenomena, or in what respect do the dynamic laws need to be completed in order to explain the real happenings? They (dynamic laws) only form one element of the explanation: they solve the propagation problem. But the impulse problem remains.
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Certain exterior impulses hit the economic mechanism and thereby initiate more or less regular oscillations.
Ragnar Frisch
Quote of the day
I like too many things and get all confused and hung-up running from one falling star to another till I drop. This is the night, what it does to you. I had nothing to offer anybody except my own confusion.
Jack Kerouac
Ragnar Frisch
Creative Commons
Born:
March 3, 1895
Died:
January 31, 1973
(aged 77)
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