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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (35297)	11/5/1998 12:49:00 AM
From: Mike M2	Read Replies (2) \| Respond to of 132070

CB, Kondratieff was sent to Siberia because it was not politically correct to predict that capitalism would survive. While I do believe that markets and economies move in cycles I do not feel the amplitude and duration of these cycles can be predicted. I have not read K*s work I can see how a depression could happen about every 60 yrs. One generation feels the pain, the next is told stories about the depression and learns to be conservative( risk averse) and save. The next ( this generation-baby boomers?) does not heed the lessons of history. I would imagine many economists scoff at his work but this is only a guess on my part. I have Joseph Schumpeter's book on Business Cycles but I have not read it. For some reason Keynesian economics and Monetarists are far more popular than the Austrian school - I like the Austrian school it makes more sense to me. Alan Greenspan seemed to relate to the Austrian school long ago see fame.org Good nite Mike