Mises Daily
Author:
Clifford F. Thies
Online Publish Date:
Since 1854, the country has been through thirty-two business cycles. Periods of expansion have averaged about five years, and periods of recession about one and a half years. Moreover, since the 1930s, recessions have been relatively short, averaging less than twelve months. Since it takes some time to say for sure that we are in recession, by the