caa a22 4500 388040610 CHVBK 20180307125020.0 cr unu---uuuuu 161130e199803 xx s 000 0 eng 10.1017/S1053837200001565 doi S1053837200001565 pii (NATIONALLICENCE)cambridge-10.1017/S1053837200001565 Mechanical Inertia and Economic Dynamics: Pareto on Business Cycles [Elektronische Daten] In the second volume of his Cours, published a hundred years ago, Vilfredo Pareto (1897, section 928) put forward what was probably the first mathematical model of the business cycle. Apart from Knut Wicksell's (1899) review of Pareto's book and Jess Benhabib's (1979) short article (partly based on Wicksell's comments), Pareto's model has gone unnoticed. According to the view advanced by Pareto in the 1890s, concepts from physics are essential, not only in the realm of static equilibrium, but also in the investigation of economic dynamics. The model follows a new presentation by Pareto of his equations of general equilibrium, where he attempted to take into account the influence of "inertia” (habit) by applying d'Alembert's principle of mechanics. He concludes that the solution to the consumption equations has a cyclical pattern and uses that to explain business cycles as oscillations in aggregate production driven by changes in consumption. Copyright © Cambridge University Press 1998 Boianovsky Mauro Tarascio Vincent J. Journal of the History of Economic Thought Cambridge University Press 20/1(1998-03), 5-23 1053-8372 20:1<5 1998 20 HET https://doi.org/10.1017/S1053837200001565 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1017/S1053837200001565 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Boianovsky Mauro NATIONALLICENCE 700 1- Tarascio Vincent J. NATIONALLICENCE 773 0- Journal of the History of Economic Thought Cambridge University Press 20/1(1998-03), 5-23 1053-8372 20:1<5 1998 20 HET CC0 http://creativecommons.org/publicdomain/zero/1.0 nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-cambridge