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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: GraceZ who wrote (37260)11/14/2000 12:58:36 PM
From: Oblomov  Read Replies (2) of 436258
 
Grace, I don't think that the K-cycle has necessarily been suspended by the invention of the computer. The K-cycle is a process of technological innovation (in the sense of Leontief) and social absorption that manifests in a cyclical pattern in real interest rates.

I'm not a hidebound believer in K-cycle theory. I think that the cycles can be of varying length (rather than the exact 54 years of the K-theory purists). There is no consensus as to the beginning and end of the historical cycles. As a result, there is a similar lack of consensus on where we are in the K-cycle. My conjecture is that we are on the brink of a deflationary period.
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