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Economic Turbulence
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Economic Turbulence: Is a Volatile Economy Good for America?

Clair Brown, John Haltiwanger, and Julia Lane

Abstract

Every day, in every sector of our economy, a business shuts down while another starts up, jobs are created while others are cut, and workers are hired while others are laid off. This constant flux, or turbulence, is a defining characteristic of our free market system, yet it mostly inspires angst about unemployment, loss of earnings, and the overall competitiveness of corporations. But is this endless cycle of fluctuation really so bad for America? Might something positive be going on in the economy as a result of it? In this work, three economists seek to answer these questions by exploring t ... More

Keywords: economy, business, jobs, workers, free market system, unemployment, loss of earnings, competitiveness of corporations, fluctuation, volatility

Bibliographic Information

Print publication date: 2006 Print ISBN-13: 9780226076324
Published to Chicago Scholarship Online: February 2013 DOI:10.7208/chicago/9780226076348.001.0001

Authors

Affiliations are at time of print publication.

Clair Brown, author

John Haltiwanger, author

Julia Lane, author