According to historiography, as it is said in history that humanity leaves its own history in writing, the conjuncture implies a historical time that can be brief or, on the contrary, last years, decades and even centuries. The time mentioned consists of the total duration of the time in question and the specific events that occurred. To make the concept more simple and understandable, it is worth mentioning some examples of situations such as: economic processes, revolutions, social and political crises, among others.
In colloquial language, the conjuncture is linked to those extrinsic elements that affect the reality of something or someone. A millionaire, due to the security situation in his country, is forced to mobilize with his bodyguards and build large walls with electrified bars around his house to protect his family. The man is not comfortable with these decisions, but the context forces him to act that way.
The conjuncture is formed by social, political, economic and even geographical, climatic and meteorological, local and international elements, but it is always a short-term situation, which is not enough to establish an economic cycle. That is why it is said that a situation is temporary when it is transitory in the course of the economic process.
Those responsible for making economic policy decisions have always been attentive to the situation. Governments have created agencies dedicated to the study of the conjuncture, beginning with the constitution in 1920 of the National Office of Economic Research in New York, led by the American economist Wesley Clair Mitchell (1874-1948), a professor at Columbia University. The Soviet Union instituted a similar investigative service in the same year.
The private business sectors of the United States were the first to investigate economic cycles, that is, the situation in the private sector of the economy, which is for them a decisive variable in the formulation of their production, sales, exports and targets. Utilities
Under this inspiration, public strategic planning models were also inclined to study the conjuncture, that is, the succession of lucky or unfortunate episodes in the national and international economic process, to identify opportunities and threats in the short term.
Professor Mitchell, inclined towards behaviorism, argued that the phenomena of economics belong to the world of human behavior and therefore are the result of mutual actions and reactions between economic agents. In the phenomena of the economy, the instincts of the people and the circumstances of the external environment in which they operate are affected. To study these phenomena, behaviorism applies methods of an objective, experimental and comparative nature, taking them from chemistry and psychology. But the importance of this economic thinking lies in the valuewhich he attributes to human behavior in the process of the economy. It seems logical to think that not everything is resolved in economic and econometric figures and formulas and that the human being with his fears, prejudices, ignorances, ambitions, vanities, that is to say with "his behavior". It has a decisive influence on the course of economic events.
