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Assignment:
Read the quote below about the Great Recession. Based on this paragraph, what can you predict will happen to the business cycle in the future? Why?
"[T]here is also some evidence to suggest that the factors that contributed to the rise in inequality and the stagnation of wages in the bottom half of the income distribution, such as technological change that favors those with a college education and globalization, are still at play in the recovery-and perhaps may have accelerated. About two-thirds of all job losses in the recession were in middle-wage occupations-such as manufacturing, skilled construction, and office administration jobs-but these occupations have accounted for less than one-fourth of subsequent job growth."
-Federal Reserve Governor Sarah Bloom Raskin, April 18, 2013.
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