The length of a business cycle is the period of time containing a single boom and contraction in sequence. Business cycles are usually measured by considering the speed dating surabaya rate of real gross domestic product. Despite the often-applied term cycles, these fluctuations in economic activity do not exhibit uniform or predictable periodicity. The common or popular usage boom-and-bust cycle refers to fluctuations in which the expansion is rapid and the contraction severe.
The first systematic exposition of economic crises, in opposition to the existing theory of economic equilibrium, was the 1819 Nouveaux Principes d’économie politique by Jean Charles Léonard de Sismondi. Sismondi’s theory of periodic crises was developed into speed dating surabaya theory of alternating cycles by Charles Dunoyer, and similar theories, showing signs of influence by Sismondi, were developed by Johann Karl Rodbertus. Business cycle with it specific forces in four stages according to Malcolm C. In 1860 French economist Clément Juglar first identified economic cycles 7 to 11 years long, although he cautiously did not claim any rigid regularity.
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