"During prolonged economic recessions when the normal cyclical expansion of output fails to materialize, the topic of the 'cyclical behaviour of wages' has emerged as an area of debate. In 1985, the British Treasury claimed that academic studies into the cyclical behaviour of wa…
In recent decades the American economy has experienced the worst peace-time inflation in its history and the highest unemployment rate since the Great Depression. These circumstances have prompted renewed interest in the concept of business cycles, which Joseph Schumpeter sugges…
Boom, bust, and misery : the curse of capitalism -- History of the roller coaster -- Bush, boom, and bust -- The income gap -- The consumption gap -- The housing crisis -- Investment and profit -- The credit balloon and the financial crisis -- Government spending and taxes -- Th…