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There is no such thing as a boom bust cycle. 1929 proved there is no natural stop on how bad things can go and how long they can endure.



> There is no such thing as a boom bust cycle.

Right. When everyone from Marxists to Keynesians to neo liberals agree that there is such a thing as a business cycle (even if they may not agree on the causes or how to manage the cycle), then I guess you may be using a definition that is different to everyone elses.


That is why counter-cyclical governmental intervention was postulated to break out of dismal self-reinforcing economic feedback, both ‘reboot’ economies when bust phases set in but (less intuitively and somewhat more vexingly) to “reign in” excessive euphoria when economies show signs of being in an over-enthusiastic boom.




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