02-03-2017, 03:51 PM
"Fifty-year cycle? I don't see it. 80-year of course = the saeculum, more or less."
Well, one could take the period from 1932-1980 as a more "socialist" economic era characterized by the rise of unions and the period from 1980-202x as the capitalist era characterized by the rise of mega corporations; the former is more Hamiltonian and the latter more Jeffersonian (though updated for the industrial age). Friedman, to me, has always been more interested in the socio-economic cycle compared to his friend Mauldin who is very interested in the Fourth Turning. Perhaps his new book is going to merge these two. (The book is slated to come out only on Oct. 24th 2017 according to Amazon which is an eternity from now.)
Well, one could take the period from 1932-1980 as a more "socialist" economic era characterized by the rise of unions and the period from 1980-202x as the capitalist era characterized by the rise of mega corporations; the former is more Hamiltonian and the latter more Jeffersonian (though updated for the industrial age). Friedman, to me, has always been more interested in the socio-economic cycle compared to his friend Mauldin who is very interested in the Fourth Turning. Perhaps his new book is going to merge these two. (The book is slated to come out only on Oct. 24th 2017 according to Amazon which is an eternity from now.)