"Business cycles are a type of fluctuation found in the aggregate activity of nations that organize their work mainly in business enterprises: a cycle consists of expansions occurring at about the same time in many economic activities, followed by similarly general recessions, contractions, and revivals which merge into the expansion phase of the next cycle; this sequence of changes is recurrent but not periodic; in duration business cycles vary from more than one year to ten or twelve years; they are not divisible into shorter cycles of similar character with amplitudes approximating their own."
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Academics from the United StatesEconomists from the United StatesBusiness theorists from the United StatesChairs of the Council of Economic AdvisorsChairs of the Federal Reserve
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Arthur F. Burns
Arthur Frank Burns (August 27, 1904 – June 26, 1987) was an American economist. His career alternated between academia and government. From 1927 to the 1970s, Burns taught and researched at , , and the .
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