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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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