ABSTRACT OF PAPER
Title: Clément Juglar's first followers
Author: FERNANDEZ LOPEZ Manuel
Clément Juglar’s first followers By Manuel Fernández López (University of Buenos Aires) lopezmf@mail.retina.ar Juglar, according to Schumpeter, for his talent and command of scientific method, deserves to be considered among the greatest economists of all times. He was, as business-cycle analyst, the first of the moderns. Despite his enormous performance, however, Juglar’s approach did not immediately find disciples or followers. There were, however, two exceptions: the Argentinean writers and public men Juan Bautista Alberdi (1810-84) and José Antonio Terry (1846-1910). Both were prominent statesmen of the Argentine Republic, the former as father of the Argentine Constitution, and the second as Senator and Secretary of the Treasure under three presidents. Alberdi devoted himself to business-cycle research in order to understand the impact on Argentina of the crisis of 1873-5, and to this end he used extensively Juglar’s Des crises commerciales (1st edition, 1862). Terry, on the other hand, was senator at the outburst of the 1887-90 crisis. Juglar’s second edition was providentially published in 1889 and allowed Terry to take advantage of it. Juglar’s book adaptation to South America by Alberdi and Terry was not confined to apply Juglar’s views: Alberdi inserted them in a framework of structural economics; and Terry (a would-be professor of Public Finance) provided a profound analysis of government responsibility in the crisis. Dr. Manuel Fernández López Professor Emeritus (University of Buenos Aires) Mail address: Treinta y Tres 839, (1718) San Antonio de Padua Provincia Buenos Aires Argentina
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