The business cycle lives

By Henry C K Liu

On December 18, 2002, I wrote a post to the online economics discussion list Post Keynesian Thought (PKT) about an earlier post of February 11, 2000, when the Dow Jones Industrial Average was heading towards 12,000.

The earlier post challenged the extravagant claim by the Bill Clinton administration Council of Economic Advisors (CEA) Annual Economic Report for 2000 that the business cycle was heading for historical relic status because of effective policies carried out by the Clinton White House.