Boom Bust Financial Times Letters
In this letter, Harrison wrote in response to Scot Young’s challenge about who, where, when, and how to predict the current crisis. Harrison explains the 18-year business cycles were led by the land price rises. This meant that the next recession would be in 2010. Harisson assesses the 18-year theory with a case for the presence of an 18-year business cycle, which links to speculation in the property market.
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