UK: THE INS AND OUTS OF UPS AND DOWNS - THE BUSINESS CYCLE.

UK: THE INS AND OUTS OF UPS AND DOWNS - THE BUSINESS CYCLE. - Industry long ago learned to ride the peaks and troughs of the economy but with the 1990-92 recession, the rules appear to have changed.

by David Smith.

Industry long ago learned to ride the peaks and troughs of the economy but with the 1990-92 recession, the rules appear to have changed.

Karl Marx described the business cycle as part of 'the fundamental contradiction of capitalism'. For 30 years after the second world war, under the influence of Lord Keynes, governments tried to smooth out the economy's fluctuations by deliberate counter-cyclical policies. Lord (Nigel) Lawson, no Keynesian, claimed, only half-jokingly, to have eliminated the business cycle in the 1980s.

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