2 pages/≈550 words
Mathematics & Economics
Explain the possible origins of the business cycle (Essay Sample)
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THE ORIGINS OF BUSINESS CYCLE
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The origins of business cycle
Business cycle is another term that is used to define any huge changes in the rate of productions , economy and even trade over a long period of time, usually years. This phenomenon occurs within a free enterprise set ups and usually involves fluctuations through a given period of rapid growing economy and a period of on growth in economy. History notes the first economic crises to have happened around the period of 1920 and was suspected to have been caused by factors such as war, and global economic crises. However, the first notable occurrence of the recurrent crises which make up the cycles was around 1930s.
However, since afore that time, there have been philosophies about business cycles, also identified as economic cycles, into seven different groups. The surfs are grouped according to the period that they last and the main wave is called Kichin record which lasts between three and 5 years. This is actually followed by Juglar motionless investment which lasts between seven and eleven years. Then there is Kuznets infrastructural investment which takes between fifteen and twenty five years followed by Kondratiev wave which lasts up to sixty years at best. The last wave on the list is called Grand super cycle which lasts over seventy years.
There are actually2 theories that attempt to elucidate the source of the business cycle. They are the Endogenous and the exogenous philosophies (Eckstei...
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