Comments on: Back the Right Horse http://crastinate.com/2009/01/07/back-the-right-horse/ A Blog by Ely Rosenstock Mon, 15 Feb 2010 00:26:33 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: Yehuda Farkas http://crastinate.com/2009/01/07/back-the-right-horse/comment-page-1/#comment-604 Yehuda Farkas Sun, 11 Jan 2009 14:49:04 +0000 http://crastinate.com/?p=510#comment-604 Is the world really changing? There are many analysts out there who feel this is yet another downturn in a rather predictable and logical trend of ups and downs. These analysts site the history of the US economy over the last 100 years. They note that about every four to six years since the Great Depression (although this can really be traced back as far as the boom after Ford came out with the model T, which by the way, also revolutionized the American economy)there are ups and downs. If one follows the trend, we should be right in the middle of a depression. They key today however, is how devastating this depression will be. There seems to be no way to predict the severity or expanse of any cycle. I might argue that each cycle brings with it varying degrees of change - we saw tremendous change during the internet boom and collapse in the last downturn, and today, we seem to also be seeing this change. I wouldn't run out to start changing the way we do things. America, and the world, is a very different place than it was even 10 or 20 years ago, however much of this cannot be pointed to a specific downturn or rise in our economic strength. Change happens naturally, it's part of advancement. I would argue we should always be adapting, who needs a depression to start it? Yehuda Farkas Is the world really changing? There are many analysts out there who feel this is yet another downturn in a rather predictable and logical trend of ups and downs. These analysts site the history of the US economy over the last 100 years. They note that about every four to six years since the Great Depression (although this can really be traced back as far as the boom after Ford came out with the model T, which by the way, also revolutionized the American economy)there are ups and downs. If one follows the trend, we should be right in the middle of a depression.

They key today however, is how devastating this depression will be. There seems to be no way to predict the severity or expanse of any cycle. I might argue that each cycle brings with it varying degrees of change – we saw tremendous change during the internet boom and collapse in the last downturn, and today, we seem to also be seeing this change.

I wouldn’t run out to start changing the way we do things. America, and the world, is a very different place than it was even 10 or 20 years ago, however much of this cannot be pointed to a specific downturn or rise in our economic strength. Change happens naturally, it’s part of advancement. I would argue we should always be adapting, who needs a depression to start it?

Yehuda Farkas

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