Business Cycles

Question 1

Answer the following questions using the question and answer (Q&A) format; in other words, include the original question along with your response.

Within your post, support your responses with information from at least one peer-reviewed/scholarly source (not older than 3-5 years) from the online library or the Internet, and provide the full citation at the end. Use APA guidelines to format your references.

1. What was the role of labor unions upon their inception in the early 20th century?
2. How has that role changed over the ensuing decades?
3. What are the primary reasons for this change?

Engage your classmates in discussion by responding to at least two of their initial posts—you may wish to build on the information they have shared, ask a question, or offer constructive criticism to clarify an issue.

Question 2

Research Joseph Schumpeter and the idea of “creative destruction” introduced in your text. How would you explain the concept to a friend unfamiliar with economics or business cycles? Include how the “strategy as action” perspective will be important to IBS as well as how creative destruction relates to your friend’s worries about monopolistic competition, collusion, and other potential corruption practices from the chapter.