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date: 25 January 2022

Business Cycle. 

The Oxford Companion to United States History
Anthony P. O'BrienAnthony P. O'Brien

As far back as reliable statistics for the American economy exist, periods of expanding output and employment have alternated with periods when output and employment have contracted. This pattern has also characterized the economies of the other industrial nations. Although such fluctuating “cycles” have been irregular in amplitude and duration, the word “cycle” does emphasize their recurring nature.... ...

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