The Great Wave
Among the other books I am reading right now, I started re-reading David Hackett Fischer’s “The Great Wave: Price Revolutions and the Rhythm of History”. I wanted to consult it after reading some of the Floyd Norris Blog at the New York Times this afternoon. I read “Great Wave” a couple years ago, and I suppose I am instinctively looking for background material in making sense of the current economic situation. Here’s a little gem from the introduction:
“The economic consequences of decelerating population growth are[:] slowing demand and downward pressure on prices throughout the world, which lead in turn to severe financial crisis in economies that were organized on expectations of very rapid growth.”
This cuts right to the heart of the matter: ”expectations of very rapid growth”. If we are having trouble because of our expectations… Is there anything we can do?!?!
Posted by Evan Bittner Sun, 26 Oct 2008 03:45:00 GMT
