Europe Economy

Prepare for 'Age of Turbulence': 'Chaotics' Author

CNBC.com
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Economic cycles will never be the same, as we are going to see more turbulence and shorter periods of prosperity, John Caslione, founder and CEO of GCS Business Capital and author of "Chaotics" told CNBC Wednesday.

The old-style economic cycle, with several years of growth followed by a recession is not likely to be repeating itself because of the volatility brought on by globalization, Caslione told "Squawk Box Europe."

"What we're going to start to see now… is the fact that we're going to move… to a series of Ws," he said. "We really have entered into this, what we call, the age of turbulence."

"What we may have is 4,5,6, 15 months of prosperity followed by a few months of downturn," he added.

"Chaotics", which Caslione co-authored with Philip Kotler, aims to help businesses detect sources of turbulence, price strategically, and adjust products to meet new customer needs.

"The second launch will really be when people say … where is the cycle again?" he said.

Businesses have to go back to thinking longer-term but they also have to adjust to new realities, according to Caslione.

"We've been pushing for short-term profitability and too short-term growth," he said.

In the new, more turbulent environment, unemployment at 9 percent in the US, as it is now, may become the norm, compared with the previous level of around 4 percent, Caslione added.