ECONOMICS: Eight centuries of wavy prices*

The Great Wave: Price Revolutions and the Rhythm of History is a fine piece of scholarship. Written by David Hackett Fischer in 1996, it brought us – perhaps for the very first time – into intimate contact with the relationship between price movements and their social consequences, over a period of eight centuries.At the very least the author is able to convince this reviewer, that the data on which his conclusions are based is both reliable and comprehensive. Reliable and comprehensive enough, …

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