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business cycles English
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There have been two eras since World War II when policymakers - American policymakers, at least - believed that they had solved the riddle of the business cycle and had learned how to manage a modern industrial or post-industrial economy.
The second was the decade of successful business-cycle management by Alan Greenspan's independent, apolitical, and technocratic Fed during the 1990s.
Keynes was an optimist in believing that governments could learn to manage the business cycle.
The typical business cycle has a natural cushioning mechanism that wards off unexpected blows.