Recessions happen somewhat cyclically because imbalances build up in the economy that ultimately cause some sort of dislocation. Actually recessions seem to be

Recessions happen somewhat cyclically because imbalances build up in the economy that ultimately cause some sort of dislocation. Actually recessions seem to be driven by random events. Our brains impose a cyclic explanation on what is actually a stochastic process. See https://www.philadelphiafed.org/-/media/research-and-data/publications/economic-insights/2019/q1/eiq119-predicting-recessions.pdf https://www.philadelphiafed.org/-/media/research-and-data/pu... for more.