I liked the article. I think it captures something real. However it dismisses out of hand without discussions any number of other theories which do in fact have

I liked the article. I think it captures something real. However it dismisses out of hand without discussions any number of other theories which do in fact have at least some explanatory or predictive value--exogenous shocks (i.e. gas crisis of the 1970s), credit/debt cycle, inventory cycle, interest rate cycle, fixed-investment cycle, and the 60 year Kondratiev waves which may be driven by a new technology introduction cycle. It also ignores recessions and depressions that don't fit it's thesis. See here http://en.wikipedia.org/wiki/Business_cycle http://en.wikipedia.org/wiki/Business_cycle.