When Economies Are Shocked? What and How Shapes Business Cycles

We know that in economics, after good years come lean years. After the COVID-19 pandemic, we worried about rapidly rising prices, even though a few years ago high inflation seemed like a distant memory. Today, many people with mortgages are waiting for lower interest rates, whereas a decade ago, low interest rates encouraged home purchases. Although economists have been explaining business cycles for decades, changing economic conditions continu…