Graphic Design Posters > boom and bust
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The term boom and bust refers to a great buildup in the price of a particular commodity or, alternately, the localized rise in an economy, often based upon the value of a single commodity, followed by a downturn as the commodity price falls due to a change in economic circumstances or the collapse of unrealistic expectations. Boom and bust phenomena have existed for centuries. During a "boom" period, buyers find themselves paying increasingly higher prices until the "bust", at which time the goods and commodities for which they have paid inflated prices may end up as valueless or nearly so.On a broader basis, the phrase boom and bust can also refer to an economy's credit cycles that occur as a result of fluctuations in "fiduciary media" or fiat money. This view is predominant in the business cycle theory of the Austrian School of economics.
