The capitalist industrial cycle consists of four major phases: crisis, stagnation, average prosperity, and boom.
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From a Marxist perspective
The capitalist industrial cycle consists of four major phases: crisis, stagnation, average prosperity, and boom.
A Critique of Crisis Theory 
Actually Marx describes 6 phases not 4. Volume 3 Chapter 22 page 482 in the Penguin edition and each one has unique characteristics which cannot be ignored.