ECLECTICS:WHAT DID WE LEARN FROM KEYNES?PART 1

Did the Americans ever interogate much the economic flunctuations of the nineteeth century?Of course not but apparently started to notice them,inspite of the expansion in the railroad and specifically the expansion in the overseas trade, that created diverse industries of many forms.Almost everyone was swept up in the monumental tide of general prosperity.A cascade despite temporary slumps and periodic setbacks that persisted till 1920s.I think there were barely a handful of primordial thinkers prior to the time who did notice the contrast between prosperity and crash or its linkage where one glorious rise could lead to demoted fall,with scanty tendencies to debate in terms of causes and effects.Still,it would take some years for professional economists to evolve tangible and pelucid theories about the influence of how one economic condition precipitated the latter.Infact up till the twenties,or broadly speaking the twentieth century economists in general still adhered to J.B.Says'law and believing the self