A happy shout out to economic historian Price Fishback for reminding us in a piece published in the New York Times that, as bad as things may now seem in the economy, they are nowhere near as bad as during the great depression of the 1930’s in the US.
He begins by saying that economic cycles and downturns are a natural part of the economic cycle [and "nature's" cycle], but that we may be more sensitive to them now because the big downturns have been coming less frequently since the 1980’s. In other words, we may have gotten a little spoiled and less used to the hardships of the normal business cycle [this lag in business cycles may have something to do with the increasingly loose monetary policy of the last several decades, which climaxed during the reign of "Bubbles" Greenspan].
And according to the theories of Soviet economist Nikolai Kondratiev on the nature of economic supercycles, we are basically due for another big downturn in the world economy. In other words, this is all part of the divine plan and this too shall pass.
But comparison with the Great Depression just doesn’t hold up. Yes the stock market is down about 40% [...]
Rachel Sussman shows photographs of the world's oldest continuously living organisms -- from 2,000-year-old brain coral off Tobago's coast to an "underground forest" in South Africa that has lived since before the dawn of agriculture. […]
Vaccine-autism claims, "Frankenfood" bans, the herbal cure craze: All point to the public's growing fear (and, often, outright denial) of science and reason, says Michael Specter. He warns the trend spells disaster for human progress. […]
Eric Topol says we'll soon use our smartphones to monitor our vital signs and chronic conditions. At TEDMED, he highlights several of the most important wireless devices in medicine's future -- all helping to keep more of us out of hospital beds. […]
Anthony Atala's state-of-the-art lab grows human organs -- from muscles to blood vessels to bladders, and more. At TEDMED, he shows footage of his bio-engineers working with some of its sci-fi gizmos, including an oven-like bioreactor (preheat to 98.6 F) and a machine that "prints" human tissue. […]
To find the path to long life and health, Dan Buettner and team study the world's "Blue Zones," communities whose elders live with vim and vigor to record-setting age. At TEDxTC, he shares the 9 common diet and lifestyle habits that keep them spry past age 100. […]
Depressions: Recessions: Money Supply:
A happy shout out to economic historian Price Fishback for reminding us in a piece published in the New York Times that, as bad as things may now seem in the economy, they are nowhere near as bad as during the great depression of the 1930’s in the US.
He begins by saying that economic cycles and downturns are a natural part of the economic cycle [and "nature's" cycle], but that we may be more sensitive to them now because the big downturns have been coming less frequently since the 1980’s. In other words, we may have gotten a little spoiled and less used to the hardships of the normal business cycle [this lag in business cycles may have something to do with the increasingly loose monetary policy of the last several decades, which climaxed during the reign of "Bubbles" Greenspan].
And according to the theories of Soviet economist Nikolai Kondratiev on the nature of economic supercycles, we are basically due for another big downturn in the world economy. In other words, this is all part of the divine plan and this too shall pass.
But comparison with the Great Depression just doesn’t hold up. Yes the stock market is down about 40% [...]