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A full orbital period.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Business Cycle

The continuous expansion and contraction of economic growth in fairly regular intervals. That is, a business cycle involves GDP growth and the creation of wealth for a period of time, followed by overheating and a recession. When the recession reaches its bottom the business cycle starts again. Some economists believe that the length and strength of business cycles are easily predictable, while others dispute this. A business cycle is seen as an inevitable part of the capitalist system. It is informally called a boom-and-bust cycle. See also: Industry Life Cycle, Kondratiev Wave.


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References in periodicals archive ?
Horlock [5] goes through a simple illustration to show that given similar conditions for both open and closed cycles, a semi-closed cycle should have approximately the same efficiency as either.
Classical (step) cycles are the ones that have interested economists since the work of Burns and Mitchell (1946).
There is reportedly no change in physical properties of the resin--"only a faster cycle," says Thomas Wyszynski, technical manager for rotational resins.
The inclusive cycle day was part of the Big Bike Revival, an award-winning project run by Cycling UK that aims to encourage people to cycle for leisure and everyday journeys.
Today, there are 500 active members and depending on their family, work, and school commitments they come together to cycle in small groups, says Abu Lanayin.
Belgium, May 9, 1997, 6th cycle, Taurus (Snake), Ox
Tests of the new model have shown that it matches the timing of previous solar cycles. Still, it's not the only model available, and different models disagree over the timing and strength of what's to come.
Observations from the Solar and Heliospheric Observatory, a NASA-European Space Agency mission, indicate that four solar cycles contribute to the sun's magnetic field configuration at any time, Dikpati says.