3 ms·
My hypothesis is that it is a real thing, and it has to do with human behavior. 7-10 years is enough time for enough people to forget the pain of a previous cr
by chubot 11y ago
My hypothesis is that it is a real thing, and it has to do with human behavior. 7-10 years is enough time for enough people to forget the pain of a previous crash. It's enough time for a new generation to arise.
There are of course other cycles based on human time scales. In movie soundtracks, there is a rule that you should never insert a song 0-15 years old. It either has to be brand new, or older than 15 years.
Where does the number 15 come from? Human time scales. A half a generation. The number 5 would be too short, while 30 would be too long.
http://www.furious.com/perfect/culturecycles.html http://www.furious.com/perfect/culturecycles.html
- nosuchthing 11y agoFor an artificially structured system of agreed upon rules that are in everyone's best interest to optimize for prosperity, "human time scales" and emotional memory, in economic systems, should have little influence. Especially considering historical blunders and clear lessons that we've learned.
- chipsy 11y agoIt requires human effort to maintain any emotional memory. If you don't contact your relatives with a card or a call to remind them you exist, you don't enjoy a good relationship with them. And if the government doesn't periodically run campaigns like "don't waste water", people forget to conserve it. These are commons goods that the market doesn't ascribe any value to unless it is directly related to current product and service. Hence, we are flooded with advertising. There is advertising everywhere. But there is no such thing for "remember the last boom and bust."