Summary
PSE announces a video series with Dr. John Tippett: “The Economist, The Novice and the 18.6 Year Cycle.” Dr. Tippett (PhD Finance/Economics, 50 years as economist/lecturer, 30 years at School of Philosophy Melbourne, was Phil’s teacher) explains: Part I — the “dark mischief” of removing land as a factor of production from modern economics causes confusion and ensures the cycle repeats; Part II — how credit exacerbates the cycle into peaks/busts and why the mid-cycle recession is a normal business cycle event.
Key Claims
- Modern economics removed land as a factor of production — this is the “dark mischief” that ensures cycle repetition. — confidence: high
- Dr. John Tippett is Phil’s own economics teacher and one of PSE’s educators. — confidence: high
- Credit exacerbates the cycle into peaks and subsequent busts. — confidence: high
- The mid-cycle recession is a normal part of the shorter business cycle. — confidence: high