Food for Thought

Will it Take a War?

In the past 150 years, we have seen cycles of economic boom, followed by a bust, followed by hard times, followed by war in one form or another. One theorist of these cycles thinks that each cycle runs for about 60 years. Maybe it depends on how long it takes us to forget. We have a generation now that doesn’t recall the Jimmy Carter years, and they have never experienced a real recession. And I don’t have the impression that much history is being taught these days. If, indeed, those who don’t remember the lessons of the past are condemned to repeat them, it seems we are in for some tough sledding.