boom

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Boom

A period of rapid, strong economic and/or stock growth. For example, some developing countries post GDP growth of 10-12% per year, especially after they have liberalized their economic policies. Likewise, some stocks may become suddenly very popular, resulting in a boom. The dot-com bubble is one of the most famous examples of a stock boom. The problem with booms is that the growth is rarely sustainable, as investors become more and more speculative and take needless risks. Thus, most booms ultimately result in busts. Many economists believe the boom-and-bust cycle is an inevitable part of doing business, while others believe that government regulation can limit both booms and busts.

boom

see BUSINESS CYCLE.

boom

a phase of the BUSINESS CYCLE characterized by FULL EMPLOYMENT levels of output (ACTUAL GROSS NATIONAL PRODUCT) and some upward pressure on the general PRICE LEVEL (see INFLATIONARY GAP). Boom conditions are dependent on there being a high level of AGGREGATE DEMAND, which may come about autonomously or be induced by expansionary FISCAL POLICY and MONETARY POLICY. See DEMAND MANAGEMENT.
References in classic literature ?
As the moon declined slowly toward the lofty, foliaged horizon of the amphitheater the booming of the drum decreased and lessened were the exertions of the dancers, until, at last, the final note was struck and the huge beasts turned to fall upon the feast they had dragged hither for the orgy.
He wiped them simply with the back of his hand and went on booming faintly.
We stood near the edge peering down at the gleam of the breaking water far below us against the black rocks, and listening to the half-human shout which came booming up with the spray out of the abyss.
The wind, playing upon the edifice, produced a booming tune, like the note of some gigantic one-stringed harp.
He has a bee in his bonnet about booming the piece.
Once, in the days when the Imperial Institute rose in South Kensington, and Joseph Chamberlain was booming the Empire, I induced the editor of a leading monthly review to commission an article from Sweet on the imperial importance of his subject.
He wanted to hasten on in the direction of the booming noise, for he knew that there would be Germans fighting against the English.
From the heights above, where were evidently other villages, came the booming of drums and a wild blowing of war-conchs; but Sheldon had dared all he cared to with his small following.