The term business cycle (or economic cycle) refers to economy-wide fluctuations in production or economic activity over several months or years. These fluctuations occur around a long-term growth trend, and typically involve shifts over time between periods of relatively rapid economic growth (an expansion or boom), and periods of relative stagnation or decline (a contraction or recession).

Business cycles are usually measured by considering the growth rate of real gross domestic product. Despite being termed cycles, these fluctuations in economic activity do not follow a mechanical or predictable periodic pattern.

The first systematic exposition of periodic economic crises, in opposition to the existing theory of economic equilibrium, was the 1819 Nouveaux Principes d'économie politique by Jean Charles Léonard de Sismondi. Prior to that point classical economics had either denied the existence of business cycles, blamed them on external factors, notably war, or only studied the long term. Sismondi found vindication in the Panic of 1825, which was the first unarguably international economic crisis, occurring in peacetime. Sismondi and his contemporary Robert Owen, who expressed similar but less systematic thoughts in 1817 Report to the Committee of the Association for the Relief of the Manufacturing Poor, both identified the cause of economic cycles as overproduction and underconsumption, caused in particular by wealth inequality. They advocated government intervention and socialism, respectively, as the solution. This work did not generate interest among classical economists, though underconsumption theory developed as a heterodox branch in economics until being systematized in Keynesian economics in the 1930s.

Ray Dalio (born in 1949 in Jackson Heights, Queens, New York, United States) is an American businessman and founder of Bridgewater Associates.

The son of a jazz musician, Dalio began investing at age 12 when he bought shares of Northeast Airlines for $300 and tripled his investment after the airline merged with another company.

Dalio received a BA from Long Island University and an MBA from Harvard Business School.

After completing his education, Dalio worked on the floor of the New York Stock Exchange and invested in commodity futures. He later worked as the Director of Commodities at Dominick & Dominick LLC. In 1974, he became a futures trader and broker at Shearson Hayden Stone. In 1975, he founded the investment management firm, Bridgewater Associates. As of January 2012, the company is the largest hedge fund in the world with nearly $120 billion under management.

Ray Dalio has written a pdf called "Principles" to share his life and business management principles with his employees.

Dalio is a practitioner of the Transcendental Meditation technique and resides with his wife in Greenwich, CT. According to Forbes he is the 44th richest person in America and the 88th richest person in the world with a net worth of $10 billion as of March 2012. Dalio has been labeled as the Steve Jobs of investing.

Graham Wright (born 6 June 1968) is a former Australian rules footballer, in the Australian Football League.

Wright was selected by Collingwood in the 1987 National Draft with their first round pick (no.3 overall) as a quick wingman, having shown great courage for Tasmanian side East Devonport. Making his debut in 1988, Wright took his time to prove his value as a first-round draftee but in 1990 he had a fantastic year which saw him rise in ranking amongst the top wingmen in the league. Wright finished 2nd in the Brownlow Medal to Tony Liberatore by one vote in 1990, and would then finish equal 3rd in the Copeland Trophy. Perhaps more importantly, Wright was a valuable member of the 1990 premiership side. Wright would also represent Tasmania in State football.

A shock came to coach Leigh Matthews and players at the end of 1991 when Wright announced he wanted to return to Tasmania to play football, but was talked out of it by Matthews. In 1993 he was a victim of a disease which threatened his playing career, but he recovered in the pre-season to continue playing his damaging football on the wing. Consistent football followed in the mid-90's before suffering a knee injury in 1996 against Richmond where he would require a knee reconstruction. Following the season ending injury, his main asset of pace was severely effected, and would play out his career in defence where his courage gave him an edge. Wright played his 200th game against Carlton in 1998, before retiring a week later at the end of the 1998 season.

Michael Pascoe is an Australian financial journalist. He is currently a finance commentator for Sunrise, and also a presenter for Sky Business Report. Born in Queensland, he worked for The Courier-Mail, and then for the South China Morning Post in Hong Kong for two years. After returning to Australia he worked for the Australian Financial Review and the Macquarie Radio Network, before becoming the finance editor at Nine Network. He left the station after 18 years. joining the rival Seven Network. He also writes for crikey.com.au, and is an associate editor for the Eureka Report.

Anthony John "Tony" Abbott (born 4 November 1957) is the Leader of the Opposition in the Australian House of Representatives and federal leader of the centre-right Liberal Party of Australia. Abbott has represented the seat of Warringah since the 1994 by-election.

Prior to entering the Australian Parliament, Abbott studied for a Bachelor of Economics and a Bachelor of Laws at Sydney University and for a Master of Arts as a Rhodes Scholar at Oxford University. He later trained as a seminarian and worked as a journalist, business manager, political advisor and Executive Director of Australians for Constitutional Monarchy. Abbott has also been an author, ultramarathon runner and member of the New South Wales Rural Fire Service.

Abbott served in the Howard Government as Parliamentary Secretary to the Minister for Employment, Education, Training and Youth Affairs from 1996-1998 and Minister for Employment Services from 1998-2001. He joined the Howard Cabinet in 2001 as Minister for Employment, Workplace Relations and Small Business. Following the 2001 Election, he took on the additional roles of Leader of the House of Representatives and Minister Assisting the Prime Minister for the Public Service. In 2003 he became Minister for Health and Ageing , retaining this position and his role as Leader of the House until the defeat of the Howard government at the 2007 federal election.