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Arthur Burns and Wesley Mitchell wrote a book about measuring these concepts that did much to introduce them into the public sphere. Â A real theory of these concepts was advocated by Edward Prescott in which they represent a manifestation of an economy's most efficient mode of operations and do not require government action. Â According to the Austrian school, these concepts are caused by perpetually low interest rates that expand the money supply. Â Joseph Schumpeter identified several of these named after ClÃ©ment Juglar, Joseph Kitchin, and Nikolai Kondratiev depending on their (*) duration. Â Simon Kuznets developed one of these based on investment patterns that lasts between fifteen and twenty five 
Arthur Burns and Wesley Mitchell wrote a book about measuring these concepts that did much to introduce them into the public sphere.
business cycles [or economic cycles]