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The business cycle in history


The following article explores the business cycle in the UK over the last 300 years. As you read the article, reflect on whether the business cycle has changed over the centuries and consider factors that may underpin cyclical activity in the UK.

The business cycle is explored in more detail in sections 2.2 and 2.4. Specifically, we try to understand what causes the cycle, once it has started, to continue or to change direction.