Wesley C. Mitchell

Wesley C. Mitchell was a pioneering American economist known for founding the field of business cycle research. He focused on understanding economic fluctuations—periods when the economy grows rapidly or slows down—by analyzing patterns in employment, production, and prices. Mitchell believed in studying real-world data to identify causes of economic ups and downs, emphasizing the importance of empirical evidence over pure theory. His work helped shape modern macroeconomics by highlighting how various factors interact and by creating systematic ways to monitor the health of the economy.