Wesley Clair Mitchell

Wesley Clair Mitchell (* August 5, 1874 in Rushville, Illinois, † October 29, 1948 in New York City, New York) was an American economist.

Life

Mitchell came early in contact with Thorstein Veblen.

In 1920 was founded on Mitchell's initiative, the National Bureau of Economic Research.

Work

Mitchell tried to gain by empirical studies of the economy improved basis. He made himself especially in the field of economic research a name and took into account the influence of subjective expectations on the economy.

Mitchell campaigned for state regulations in case of unsatisfactory market outcomes. Here he stood in the middle between the free market economy and a centrally planned economy.

Writings (selection )

• The business cycle. Problem and problem. (1927 )