"The postwar era has not surprised Arthur Burns, for business cycles have continued their "unceasing round." although the United States recession of 1981-82 was the eighth since World War II and the deepest postwar slump by almost any measure, the 1983-84 recovery displayed an upward momentum sufficient to befuddle forecasters and delight incumbent politicians. Nor would a reincarnated Joseph Schumpeter be disappointed in the current status of business cycle research in the economics profession. To be sure, interest in business cycles decayed during the prosperity of the 1960s, as symbolized in the 1969 conference volume, Is the Business Cycle Obsolete? and in Paul Samuelson's remark the same year that the National Bureau of Economic Research "has worked itself out of one of its first jobs, namely, the business cycle.""
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Original Language: English
Available Languages (1)
Sources
Robert J. Gordon, ed. The American Business Cycle: Continuity and Change, 1986. p. 1-2
https://en.wikiquote.org/wiki/Business_cycle
Revision History
No revisions have been submitted for this quote.
Categories
Business cycle
11 quotes on TrueQuotesView all quotes by Business cycle →
Related Quotes
"Business cycles are a type of fluctuation found in the aggregate activity of nations that organize their work mainly …"
"For well over a century business cycles have run an unceasing round. They have persisted through vast economic and so…"
"Periodically, our economic system becomes the spectacle of unemployed men who are able and eager to work; abundant to…"
"Business-cycle theorists concerned themselves with why the economy naturally generated fluctuations in employment and…"
"The other mystery is the reason why there is a business cycle - the irregular rhythm of recessions and recoveries tha…"
"Inevitably, any attempt to break down the past down into cycles involves beginning and ending points that are, to som…"
"That very large system, with interconnected industries responding to each other through delays, entraining each other…"
"This book offers an analytic description of the complicated processes by which seasons of business prosperity, crisis…"
"No two business cycles are quite the same; yet they all have much in common. They are not identical twins, but they a…"
"Analyzing business cycles means neither more nor less than analyzing the economic process of the capitalist era.... C…"