Private Sector’s Bumpy Road to Growth

Mild and severe economic fluctuations and business cycles of boom and bust are at the core of a free market economy based on private sector investment and entrepreneurship. 
These fluctuations are caused by the evolution of technology and innovation, optimism and pessimism toward the economy and price shocks stemming from wars and droughts. However, one of the key responsibilities of governments is to stabilize the economy by using various political tools at their disposal. 
These statements were made by Jafar Kheirkhahan, an economist, in an article for the Persian-language daily Donya-e-Eqtesad. A translation of the text follows: