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Re: WS and GF
by Bruce McFarling
03 October 2002 04:07 UTC
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>[Mike:]  That's OK, but why should the K-wave "stretch"?  The ~50 year 
>K-cycle I believe got its length from a "natural" constant, the 
>"replication time" for the human species. ... 

>Corporate capitalism developed in the very late 19th century and early 
>20th century, yet the stretch really didn't show up until after WW II.  
>I think the lengthening is best traced to governmental economic policies 
>that have prevented the recurrence of panics and depression for 60 years--
>with the side effect of a price revolution.

The stretch would be permitted by the shift from individual to 
corporate capitalism weakens the lenght between human generations 
and economic activities.  If that is the cause of the stretch, 
then the shift would have to follow on from the 1920's, when 
the heirs of individual owners of major companies built in the 
late 1800's / early 1900's were largely bought out and replaced 
by professional management.

Why a stretch instead of a shrinkage?  I am not a K-wave 
scholar, and I don't have the faintest idea why the K-cycle 
would extend instead of shorten when released from the 
close ties of familial inheritance of management positions. 
Of course, if it is due to the government economic policies, 
then it would be, as I said, due to the shift from individual 
to corporate capitalism, since those policies are part of 
that shift.

Dr. Bruce R. McFarling, PhD
Bus. Office 1.72 -- (02) 4348-4078
School of Business
Faculty of the Central Coast
Newcastle University, Ourimbah

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