US business cycles: past, present and future.
Lazzat Davlet, PhD. Introduction It is well known that the economy is cyclic and there are many different cycles: long-term, middle- and short-term cycles. Long term cycles usually last about 50-60 years and some researchers believe they depend on the price of oil, gold or other goods. There is also a theory that long cycles are the result of new waves of innovations in the economy. Most middle and short cycles are caused by changes in consumer’s behavior in the market and huge resources are spent every year to predict these changes. The whole market is the result of millions of individual’s activities, business people including who mostly behave unconsciously. No matter how much unconscious behavior was studied, it is almost impossible to predict it without involvement of influence from…