Every Other Generation
Every other generation has an economic boom or an economic
bust. The twenties and thirties were bust
years with the Great Depression. The forties,
fifties, and sixties were boom years well above the long-term average growth rate of the
American economy where real household incomes doubled.
The seventies and eighties featured a period of a quarter of century where
the average household income grew little or none for most people, a modern prolonged
slump. The nineties represent the beginning
of the next great boom period of two or three decades.
Real Economy will explain the natural causes of this
long-term cycle, as well as the human and business reinforcements that have perpetuated
the cycle long after mankind has increased their control over the environment. This
is known as the Kondratiev Cycle.
Evidences of the cycle come in all forms, natural, political, and economic. Forty-four watershed events of our times represent
almost exact repetitions of like events a half century before, and similar evidence exists
in the Roman Empire era long ago, showing that these phenomena are no fluke.
Long Cycle Repeats Long Cycle Summary