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Politics : PRESIDENT GEORGE W. BUSH
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To: willcousa who wrote (129845)3/1/2001 11:43:46 AM
From: Neocon  Read Replies (1) of 769667
 
The essence of the business cycle is statistical. There are always firms that go under, or have a bad year. When an unusually high cluster of such business problems occur, the economy goes into recession. The era of high- tech promises to eliminate the business cycle by enabling firms to plan and develop more efficiently, and to be more flexible in meeting exigent circumstances. Thus, although fluctuations will not disappear, the swings will not be so severe. Pro- growth policies help by increasing the overall efficiency of the market, and compensating for business failures with a higher rate of start- ups. We are definitely on our way to eliminating the business cycle, but it may be premature to announce its demise......
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