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 periodicals archive ?
The picture that emerges from the chapter is that both the crime boomlet of the mid-1980s and the crime bust of the 1990s are tied mostly to handgun use among kids and young adults under twenty-five years old who were participating in the crack cocaine market.
The baby boomlet hump from age 20 to 35 grew up with electronics, affluence, protective boomer parents, and having their wants met immediately," Leung explains.
Boomlets (Ages 4 to 21) wield greater spending power and garner more influence over family purchasing decisions that probably any other time in history.
It was designed with today's baby boomers and baby boomlets (people born in the 1980s) in mind.