Parsons and McClelland provide competing theories about the relationship betweennAchievement (nAch) and the business cycle. McClelland maintainsnAch levels are fixed by generations and are insensitive to short-term variations such as the business cycle. Parsons argues that both levels ofnAch and economic activity can be viewed as manifestations of phase movement. Two hypotheses are evaluated using the featured functional positions (N= 2,370) inTimemagazine from 1923–70. Hypothesis I predicted a positive correlation between the proportion of external positions and the business cycle. Hypothesis II predicted a positive correlation between levels ofnAch and the business cycle. Hypothesis I was supported. Hypothesis II was supported when the World War II period was eliminated from the time series. Further analysis ofnPower is suggested to clarify these relationships.