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Other schools of economic thought, such as new classical macroeconomics, [citation needed] hold that countercyclical policies may be counterproductive or destabilizing, and therefore favor a laissez-faire fiscal policy as a better method for maintaining an overall robust economy. When the government adopts a countercyclical fiscal policy in ...
Bank run on the Seamen's Savings Bank during the panic of 1857. There have been as many as 48 recessions in the United States dating back to the Articles of Confederation, and although economists and historians dispute certain 19th-century recessions, [1] the consensus view among economists and historians is that "the [cyclical] volatility of GNP and unemployment was greater before the Great ...
The NBER defines an expansion as a period when economic activity rises substantially, spreads across the economy, and typically lasts for several years. [1] During the 19th century, the United States experienced frequent boom and bust cycles. This period was characterized by short, frequent periods of expansion, typically punctuated by periods ...
In economics, secular stagnation is a condition when there is negligible or no economic growth in a market-based economy. [1] [2] In this context, the term secular means long-term (from Latin "saeculum"—century or lifetime), and is used in contrast to cyclical or short-term. It suggests a change of fundamental dynamics which would play out ...
With the same eye for snazzy visual aids and casual human eccentricity that informed his delightful crossword-puzzle docu Wordplay, helmer Patrick Creadon tackles a markedly grimmer story in I.O.U.S.A., an alternately amusing and alarming primer on America's off-the-charts fiscal irresponsibility. Meant to raise awareness of the skyrocketing ...
Government deficit spending is a central point of controversy in economics, with prominent economists holding differing views. [3]The mainstream economics position is that deficit spending is desirable and necessary as part of countercyclical fiscal policy, but that there should not be a structural deficit (i.e., permanent deficit): The government should run deficits during recessions to ...
Cyclical asymmetry is an economic term that describes any large imbalance in economic factors occurring for purely-cyclical reactions by a market or nation. That may include employment rates, debt retention, interest rates , bond strengths , or stock market imbalances.
There are many domestic factors affecting the U.S. labor force and employment levels. These include: economic growth; cyclical and structural factors; demographics; education and training; innovation; labor unions; and industry consolidation [2] In addition to macroeconomic and individual firm-related factors, there are individual-related factors that influence the risk of unemployment.