First edition. 8vo. vii, [5], 201, [1], pp. Original black cloth, spine lettered and ruled in gilt, dust jacket (internally clean and unmarked; spine panel of jacket only the slightly shade toned, later publisher’s price sticker to front turn-in fold, in all other respects a remarkably fine copy). Oxford, Clarendon Press, 1950.
A very fine copy of Hick’s first major attempt at disequilibrium dynamics, which built on the multiplier-accelerator framework established by Samuelson and the growth model of Harrod. ‘A Contribution to the Theory of the Trade Cycle (1950) provides an example of the type of model that explains cycles as the outcome of the interaction between the multiplier and the accelerator. These systems are linear in their simplest formulations when they lead to cycles which are almost certainly either damped or anti-damped’ (New Palgrave).
