Is there a sound economic theory which predicts an 80 year cycle of great depressions?
September 22, 2008 5:15 PM Subscribe
In a book by Arthur C. Clarke (Ghost from the Grand Banks
if I remember correctly... if I'm wrong please correct me) he talks about an economic theory which predicts great depressions every 80 years or so. Now, current events have brought this prediction rather starkly to mind. Was there a sound basis for that prediction or is it merely that bad economic shocks happen often enough for a fake pattern to emerge? Was it maybe just a lucky guess?
posted by Kattullus to society & culture (10 answers total) 4 users marked this as a favorite
I've done a lot of googling of 80 year cycle and other terms that I've thought might get me somewhere interesting but all I get is conspiracy theorists and worse. Now, I know that Ghost from the Grand Banks is lesser Clarke but I'd like to think that he was a little bit more up on his economics than internet conspiracy theorists. The 80 year cycle thing might also have been mentioned in an introduction or afterword.