Mark Skousen in his excellent economics text,
The Structure of Production, shows that professions on the front line such as accountants and investing experts, follow the Austrian business-cycle theory (ABCT) often without know it. Schwab confirmed that in March of this year with a chart titled “
The Business Cycle: How Does Each Sector Perform.”
The chart divides the business cycle into four segments – early expansion, maturing expansion, late expansion and recession – and shows which sectors perform the best in each segment of the cycle. I do something similar in
Financial Bull Riding but use segments of the cycle described by Lord Overton in the mid-1800s.
