The volatility of economic activity in the United States has decreased over time, and especially since World War II. Economists refer to this as the Great Moderation, and during this period expansions have gotten longer while recessions have gotten shorter.

1. What are some causes of this Great Moderation (reflect on current economics in the past 10 years)?
2. Do you think this pattern can continue in the future (for the next 10 to 20 years)? (Support your answers with academic articles from the HCCC library website.)
3. Can you think of any potential drawbacks to this development, or alternative changes that will need to be made in the future to continue the stability within the economy? Explain if these issues are even possible or hypothetical within your answer, and why?