ABSTRACT
“Crisis” is a concept that has multiple meanings. The most common meaning is a downturn in major phenomena, which is labeled “Cycles within structure.” Business cycles are an example of such widely studied phenomena. One can consider two types of structures: eternal or non-eternal. Eternal structures imply that cyclical ups and downs are part of the long-term upward or downward trend. Non-eternal structures of Fernand Braudel imply a conceptual framework of “events” and “cycles within structure.” It assumes a life-span of structures: they come into existence, function according to rules, and come to an end. The significance of the Braudelian conceptual framework can provide clarity in this matter.
