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Conversely, any economic quantity that is negatively correlated with the overall state of the economy is said to be countercyclical. [3] That is, quantities that tend to increase when the overall economy is slowing down are classified as 'countercyclical'. Unemployment is an example of a countercyclical variable. [4]
Circular cumulative causation is a theory developed by Swedish economist Gunnar Myrdal who applied it systematically for the first time in 1944 (Myrdal, G. (1944), An American Dilemma: The Negro Problem and Modern Democracy, New York: Harper).
Chesnais, François [1984] Marx's Crisis Theory Today in Christopher Freeman ed. Design, Innovation and Long Cycles in Economic Development 2nd ed. 1984 Frances Pinter, London; Chesnais, François [Feb 2012] World Economy - The Roots of the World Economic Crisis [permanent dead link ] in International Viewpoint Online magazine : IV445
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 ...
A vicious circle (or cycle) is a complex chain of events that reinforces itself through a feedback loop, with detrimental results. [1] It is a system with no tendency toward equilibrium (social, economic, ecological, etc.), at least in the short run. Each iteration of the cycle reinforces the previous one, in an example of positive feedback. A ...
Subramanian and Kessler argue that the world is now in an era of "hyper-globalization, where world trade has soared much more rapidly than world GDP". They note that in the period since the late 1990s, there was a surge in economic activity in the developing world.
Sweeping deportations pledged by President-elect Donald Trump could pose an economic shock for the restaurant industry in ways that echo the pandemic: pricier menus, rising wages, and shuttered ...
Social cycle theories are among the earliest social theories in sociology.Unlike the theory of social evolutionism, which views the evolution of society and human history as progressing in some new, unique direction(s), sociological cycle theory argues that events and stages of society and history generally repeat themselves in cycles.