Keynes theory of trade cycle with diagram
did Keynes, but I have found the use of symbols, and even the odd diagram, can help in The case made for Keynesian business cycle theory by New. But the Keynesian theory of multiplier alone does not offer a full and satisfactory explanation of the trade cycles. A basic feature of the trade cycle is its cumulative character both on the upswing as well as on the downswing i.e., once economic activity starts rising or falling, it gathers momentum and for a time feeds on itself.