The Unreality of the Real Business Cycle

(See Underconsumption for this theory's role in business cycle analysis.

Switzerland is a relatively easy place to do business, currently ranking 28th of 178 countries in the Ease of Doing Business Index.

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We need fewer equilibrium business cycle theorists and more old fashioned Keynesians and monetarists.

In that sense, the phenomenon of the business cycle looked relatively permanent and unchanging.

While there was a business cycle, no perceptible tendency toward chronic demand weakness appeared.

This cycle is equally important for leisure and business and conference tourism and travel.

The ratio of women is still lower in some sectors and lines of business (View index 3.6)

America s economic contradictions are part of a new business cycle that has emerged since 1980.

Back then, even Jean Baptiste Say no longer believed in Say s Law of business cycle frequencies.

They provide much greater economic stability, measured by the ups and downs of the business cycle.

In the next business cycle, China s banks will be privately owned for the first time since 1949.

On the business side, investment and employment follows demand once the inventory cycle has run its course.

In his 1959 book The Business Cycle , in a chapter entitled The Lower Turning Point, Cambridge University economist R. C. O. Matthews summarized a host of factors that business cycle theorists of his day argued tend to bring on recovery automatically.

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The United Nations publishes a Human Development Index (HDI) every year, which consists of the Life Expectancy Index, Education index, and Income index.

Even on the business cycle dimension, conditions have been far worse in the past than they are today.

In fact, whereas most schools of economic thought maintain that one of government s key responsibilities is to smooth the cycle, real business cycle theory argues that reducing volatility reduces welfare!

In 2006, Santa Claus again came from Germany with a sack full of good news about the business cycle.

Macroeconomists celebrated the Great Moderation of the global business cycle, with recessions seeming to become milder and less frequent.

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