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In economics, a trough is a low turning point or a local minimum of a business cycle. The time evolution of many economics variables exhibits a wave-like behavior with local maxima (peaks) followed by local minima (troughs). A business cycle may be defined as the period between two consecutive peaks. [1] [2]
An economic expansion is an upturn in the level of economic activity and of the goods and services available. It is a finite period of growth, often measured by a rise in real GDP , that marks a reversal from a previous period, for example, while recovering from a recession .
Peak capitalism is a term used in recent academic literature to describe a situation in which capitalism can no longer survive. The phrase is based on the concept of peak oil and suggests that a capitalist system in a postmodern world can no longer survive, given that the international system depends entirely upon non-renewable resources to reproduce society.
Peak oil relates closely to oil depletion; while petroleum reserves are finite, the key issue is the economic viability of extraction at current prices. [6] [7] Initially, it was believed that oil production would decline due to reserve depletion, but a new theory suggests that reduced oil demand could lower prices, impacting extraction costs.
In the United States the unofficial beginning and ending dates of national economic expansions have been defined by an American private non-profit research organization known as the National Bureau of Economic Research (NBER). The NBER defines an expansion as a period when economic activity rises substantially, spreads across the economy, and ...
Capital Economics projects 7% mortgage rates in the coming weeks. It’s ‘extremely likely’ we’ve seen mortgage rates peak, Capital Economics says, and mortgage demand is starting to recover ...
According to the economic theory behind congestion pricing, the objective of this policy is the use of the price mechanism to make users more aware of the costs that they impose upon one another when consuming during the peak demand, and that they should pay for the additional congestion they create, thus encouraging the redistribution of the ...
An expansion is the period from a trough to a peak and a recession as the period from a peak to a trough. The NBER identifies a recession as "a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production". [26]