“In the classic old business cycle, there would be a diminution in sales; it would take a little while for this information to reach corporate headquarters. And there would be an inventory pileup. And then – bam – businesses would react, sometimes violently, by cutting production.”

“In the classic old business cycle, there would be a diminution in sales; it would take a little while for this information to reach corporate headquarters. And there would be an inventory pileup. And then – bam – businesses would react, sometimes violently, by cutting production.”

— Alan Blinder