The Five Phases of the Economy
The four phases of the economic life cycle are Innovation, Growth, Shakeout, and Maturity. The Innovation phase is where new technologies and products come about. The growth phase occurs when the technology becomes evident, and competition is present. In the Shakeout Phase, the consequence of the global financial crisis is observed. Lastly is the maturity boom. At this time, the global economy can only strive to aspire to become stable.
For a great article that goes in debt about the phases of the economic cycle, click here.
For a great article that goes in debt about the phases of the economic cycle, click here.