The similarities among the writings of Ralph Hawtrey, Lauchlin Currie and Milton Friedman are re‐affirmed, as is the influence of the former on what Friedman has called “the Chicago tradition” of the 1930s. The underconsumptionist analysis of Paul Douglas is not integral to that tradition.

Responds to George Tavlas’ comments in “More on the Chicago tradition”, in this issue, and once again assesses the contribution of individuals to “the Chicago tradition” of the 1930s.

Reappraises the stylised facts of the contemporary UK business cycle and the robustness of associated sample moments to detrending under the Hodrick‐Prescott (HP) filter and an unobserved components (UC) model based on the structural time series mode of Harvey and advocated in this context by...

Purpose – The purpose of this paper is to compare the governance structures of two distinctive governance forms: the family firm and the leveraged buyout (LBO). The paper also explores the relative performance of these two organizational forms over the course of the economic business cycle....

Investigates the effects on quits of the current level of wages and the change in wages in order to test the proposition that the change in wages has a negative impact on quits, even controlling for the current level of wages. Finds that the percentage deviation in a worker′s wage change from...

Enquires into the link between the Tokyo and New York equity markets. Finds that the link between the two markets strengthens at some times and weakens at others. Staggering business cycles and the breaking of global co‐operation are two plausible explanations of the weakening of the links...

Purpose The purpose of this article is to present an overview of the area of strategic forecasting and its research directions and to put forward some ideas for improving management decisions. Design/methodology/approach This article is conceptual but also informed by the author’s long contact...