1. Why has the consideration of business cycles in determining a firm's value become of declining importance over the past few decades?

1. Why has the consideration of business cycles in determining a firm's value become of declining importance over the past few decades?2. How does increasing competition impact business fluctuations, and how does it impact a firm's price power?3. What is the argument of the new paradigm in terms of the frequency and severity of episodes of inflation and recession?

1. Why has the consideration of business cycles in determining a firm's value, become ofdeclining importance over the past few decades?Business cycle is the different stages of a business. There...