CB -
That's an interesting theory but I'd need to see some data to back it up. The business cycle info is available to researchers online from NBER, so it should be fairly easy to check, if you have an interest in that.
It would seem to be a major task, well beyond my research capabilities. You'd need a big conglomeration of time series data on segment and overall cycles, interest rates, FED actions, and GKWA. -g-
Random quoted passage of the day -
Rothbard, Economic Thought Before Adam Smith, pages 115-116, in Chapter 4, The late Spanish scholastics
"...The School of Salamanca had begun with the distinguished jurist, de Vitorio, and so it is fitting that the last major Salamancan should be another renowned jurist, and perhaps the most illustrious thinker in the history of the Jesuit Order -- Francisco Suarez (1548-1617). The last of the great Thomists, this celebrated theologian was born in Granada into an ancient noble family. Entering the University of Salamanca, Suarez applied to the Jesuit order in 1564 and was the only applicant among 50 candidates that year to be rejected -- as mentally and physically below standard! Admitted finally with an inferior rank, Suarez could barely keep up with his studies and was known -- ironically like St Thomas Aquinas before him -- as the 'dumb ox'. Soon, however, the humble and modest Suarez became the star pupil, and it was not long before his theology professors were asking him for advice....
...Francisco Suarez never achieved his due in life. His quiet, plodding lecture style made him lose academic influence to flashier though inferior rivals. Perhaps the crowning indignity heaped upon him is that, in 1597, at the age of 49, this brilliant and learned jurist and theologian, perhaps the greatest mind in the history of the Jesuit Order, was forced to leave the University of Coimbra for a year to obtain a doctorate in theology at Evora. Ph.D-itis in the sixteenth century...."
Regards, Don
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