Populism, as the residue of the properly political, is the ultimate symptom of the post-political condition. Firstly, the post-political consensus itself tends towards populist gestures as a substitute for the properly political.
Comment(0) Step 3 of 3 The business cycle affects output and employment in capital goods industries and consumer durable goods industries more severely than in industries producing consumer nondurables because the spending on the former goods could be postponed but it is difficult to cut back on the latter.
Business Cycles. The phases of a business cycle follow a wave-like pattern over time with regard to GDP, with expansion leading to a peak and then followed by contraction leading to a trough. Business cycles are identified as having four distinct phases: expansion, peak, contraction, and trough.