, The Business Cycle: Theory and Evidence, Boston : Kluwer Academic Publishers.Zarnowitz, V. (1991). What is a business cycle? NBER Working Paper, 3863, NBER, CambridgeZARNOWITZ, V. What is a Business Cycle? National Bureau of Economic Research: NBER Working Paper, 3863, 1991.Zarnowitz,...
Laissez-faire economics is a theory that restricts government intervention in the economy. It holds that the economy is strongest when all the government does is protect individuals' rights. Key Takeaways Laissez-faire economics is a theory that says the government should not intervene in the econo...
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Additional steps can be added to the product life cycle theory, depending on the views of an analyst. “Saturation,” for example, is often considered a period of time after a product reaches maturity, but before it begins to decline. This essentially represents a plateau in sales that extend...
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When one discusses the fluctuations known as the business cycle, it is important to remember that one is talking about general, or economy-wide, fluctuations and not fluctuations that are specific to one geographic region or industry within an economy. One is talking about fluctuations in output,...
Theory or Practice? —What is the point of research carried out by biz schools? Students go to universities and other academic institutions to prepare for their future. We pay tuition and struggle through classes in the hopes that we can find a fulfilling and exciting career. But the...
Today, critical race theory is used by academic scholars – and not just in law schools – to describe how racism is embedded in all aspects of American life, from health care to housing, economics to education, clean water to the criminal justice system and more. Those systems,...
When the entire organization is contributing story ideas, there is a sense of ownership and pride that carries through. Employees can be hesitant to mix business and pleasure, meaning they don’t always want to promote their company’s marketing efforts with their social network. Whe...
The crack-up boom develops out the same process of credit expansion and the resulting distortion of the economy that occurs during the normal boom phase ofAustrian business cycle theory. In the crack-up boom, thecentral bankattempts to sustain the boom indefinitely without regard to consequences,...