BlackEconomics.org® What is the PBC? Economist and 2018 Nobel Laureate William Nordhaus is an early theorizer about the political business cycle (PBC), which he concluded arises because “voters care about the economy and politicians care about power.”(1) The notion is that politicians will act to ensure favorable conditions (especially economic conditions) leading up to elections […]
The post The PBC and You appeared first on The Madison Times.
