Recession

A four-century analysis of economic contractions challenges common assumptions about what causes recessions, how they end, and why they spread. Drawing on historical sources and statistical evidence, the account argues that recessions are usually triggered by adverse shocks such as war or energy price spikes rather than by the natural collapse of a boom.

The result is a clear case for readers interested in economics and public policy. It speaks to policymakers, business leaders, and general readers who want a sharper explanation of downturns and the decisions that can prolong them or limit their damage.