How do critics of stabilization policy view the "political business cycle"?

Question

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Critics of stabilization policy believe that politicians may try to manipulate the economy for political gain, causing economic instability. This is known as the "political business cycle." They argue that the timing of elections may lead politicians to use expansionary policies, such as increasing government spending or reducing taxes, in order to boost the economy before an election, even if such policies are not appropriate for the economic environment. This could lead to inflation or other economic problems in the long run.

How Do Critics of Stabilization Policy View the "Political Business