Great Economists Since Petty and Boisguilbert
Edited by Gilbert Faccarello and Heinz D. Kurz
Chapter 35: Clément Juglar (1819–1905)
Joseph Schumpeter (1954: 1123) described Clément Juglar as being “among the greatest economists of all times” and proposed the so-called Juglar-cycle, which lasts between eight and ten years. However, Juglar’s contribution was not confined to the analysis of business cycles: he wrote papers on demography and on monetary and credit theories (see Allisson et al. 2009). These works are of interest not only because they are original and reflect the debates of the nineteenth century, but also because they provide a more comprehensive view of Juglar’s vision. Juglar was born in Paris in 1819 and initially trained as a physician (see Frobert and Hamouda 2008). He defended his thesis in medicine, ‘De l’influence des maladies du coeur sur les poumons’, in 1846, but in 1848, shocked by the revolution, and the three years of the Republican regime and the 1847 recession, he decided to become an economist. There was a transition period (1851–52) when, after travelling to Algeria, Juglar published several papers on the French colonies (Frobert 2009) before turning his attention to the French population movements. His statistical investigations led him to identify a regular cycle of weddings, births, and so on, a retour périodique, which he progressively linked to the economic context. Then began his focus on economics: in 1856 he was introduced to the Société d’économie politique by Louis Wolowski, and in 1860 he became one of the founding members of the Société de statistique de Paris. His first paper on...