When writing about this topic, Joseph Schumpeter supported the work of Nikolai Kondratiev but disagreed with Simon Kuznets.
When writing about this topic, Joseph Schumpeter supported the work of Nikolai Kondratiev but disagreed with Simon Kuznets. These have been blamed on the Accelerator Principle, a form of positive feedback. Saltwater economists like the Keynesians advocate government action to counteract them, while freshwater economists claim they are a series of short-term phenomena that can be exacerbated by government action. Some economists claim that these are timed politically with troughs following elections and peaks leading into elections. These deviations from long-term growth alternate between expansions and contractions. Name this phenomenon that consists of booms and busts.
When writing about this topic, Joseph Schumpeter supported the work of Nikolai Kondratiev but disagreed with Simon Kuznets.
business cycles [accept economic cycles; prompt on boom and bust]