Short-term Fluctuation around a long-term trend in Economic Growth. This concept is related to the ideas of Recession (Bust) and Expansion (Boom). This conclusion incorporates the assumption (paradigm) that there is a long-term sustainable growth that can be acheived / that is optimal to be acheived. Therefore deviations from this trend would cause pressures in the economy that would unravel and cause a correction to a boom, or period of "pent-up demand during a bust."
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| - Business cycle
- Business Cycle
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| - Short-term Fluctuation around a long-term trend in Economic Growth. This concept is related to the ideas of Recession (Bust) and Expansion (Boom). This conclusion incorporates the assumption (paradigm) that there is a long-term sustainable growth that can be acheived / that is optimal to be acheived. Therefore deviations from this trend would cause pressures in the economy that would unravel and cause a correction to a boom, or period of "pent-up demand during a bust."
- The development of our modern economic life is not an even and continuous growth; periods of rapid progress are followed by periods of stagnation. If we disregard secondary phenomena, like breakdowns, bankruptcies, and panics, the business cycle presents itself as a periodic up and down of general business activity, or, more precisely, of the volume of production. The growth of production does not show a continuous, uninterrupted trend upward but a wavelike movement around its average annual increase. See also: Austrian Business Cycle Theory
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| abstract
| - Short-term Fluctuation around a long-term trend in Economic Growth. This concept is related to the ideas of Recession (Bust) and Expansion (Boom). This conclusion incorporates the assumption (paradigm) that there is a long-term sustainable growth that can be acheived / that is optimal to be acheived. Therefore deviations from this trend would cause pressures in the economy that would unravel and cause a correction to a boom, or period of "pent-up demand during a bust."
- The development of our modern economic life is not an even and continuous growth; periods of rapid progress are followed by periods of stagnation. If we disregard secondary phenomena, like breakdowns, bankruptcies, and panics, the business cycle presents itself as a periodic up and down of general business activity, or, more precisely, of the volume of production. The growth of production does not show a continuous, uninterrupted trend upward but a wavelike movement around its average annual increase. In the nearly periodic economic crises, the sudden onset was called a "panic," and the lingering trough period after the panic was called "depression." Later on it was called "recession", "downturn," or, even better, "slowdown," or "sidewise movement." The business cycle is sometimes called a "boom-bust" cycle. See also: Austrian Business Cycle Theory
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