Business cycles are intervals of general expansion followed by recession in economic performance. The changes in economic activity that characterize business cycles have important implications for the
Phases of the business cycle
Business cycle with it specific forces in four stages according to Malcolm C. Rorty, 1922
Economic activity in the United States, 1954–2005
Deviations from the long-term United States growth trend, 1954–2005
Simon Smith Kuznets was a Russian-born American economist and statistician who received the 1971 Nobel Memorial Prize in Economic Sciences "for his empirically founded interpretation of economic growt
Kuznets in 1971