Tapia Granados discusses the US economic recessions, the infighting among economists, and relation between profit and recession. Both liberal and conservative thinking on why recessions happen blames exogenous factors coming from outside of the economic sphere and therefore implies that if these were removed, the economy would work properly. The evolution of profits shows how profits stagnated or even began to decline several quarters before each of the three recessions starting respectively in 1990, 2001, and 2007.