----------------- HES POSTING ----------------- Malcolm Rutherford's query on the first use of the expression "Business Cycle", as opposed to "Trade Cycle" raises another interesting question: what are the different implications of these notions (and of "industrial fluctuations", used by Robertson and Pigou)? Malcolm gives the answer for Mitchell's case; but how far were other writers consciously choosing between one term and the other? I have the impression that usage depends (in part, at least) on the continent: while in the US the expression "Business Cycle" seems to be used more frequently than "Trade Cycle", the opposite seems to be the case in Britain. But perhaps I am wrong in this generalization, or perhaps this reflects the relatively large number of institutional economists in the US: could anyone throw some light on this? As to Malcolm's question: perhaps the answer can be found in the largest edition of the Oxford English Dictionary, which reports the ethymology and the first usage of terms. Unfortunately I do not have it at hand, and cannot check myself. Another question: why "Business Cycle" and "Trade Cycle" in capital letters? This was often used in the 1930s, while it is rare in post-war writings. Daniele Besomi ------------ FOOTER TO HES POSTING ------------ For information, send the message "info HES" to [log in to unmask]