author
Clément Juglar
1819–1905
A French physician turned economist, he became one of the first thinkers to study recurring booms and busts in a systematic way. His name lives on in the “Juglar cycle,” a classic idea in the history of business-cycle theory.
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About the author
Born in Paris in 1819, Clément Juglar trained as a doctor before shifting his attention to economics and statistics. That medical background shaped the way he looked at economic life: he searched for patterns, symptoms, and regular rhythms in trade and finance rather than treating crises as isolated accidents.
He is best remembered for his early studies of commercial crises and for identifying a recurring cycle in business activity that later became known as the Juglar cycle. His work helped lay the groundwork for later business-cycle research by arguing that expansions and downturns followed recognizable movements in credit, investment, and prices.
Juglar died in Paris in 1905. He is often introduced today as both a physician and a pioneer of economic statistics, a combination that helps explain why his writing still matters to readers interested in how economists first tried to make sense of financial instability.