The successful entrepreneurs on the free market will be the ones most adept at anticipating future business conditions. Yet, the forecasting can never be perfect, and entrepreneurs will continue to differ in the success of their judgments. If this were not so, no profits or losses would ever be made in business.

The 'boom-bust' cycle is generated by monetary intervention in the market, specifically bank credit expansion to business.

Declines in specific industries can never ignite a general depression. Shifts in data will cause increases in activity in one field, declines in another.

Murray Rothbard Quotes