Secular Cycles

Download Secular Cycles PDF Online Free

Author :
Publisher : Princeton University Press
ISBN 13 : 0691136963
Total Pages : 361 pages
Book Rating : 4.6/5 (911 download)

DOWNLOAD NOW!


Book Synopsis Secular Cycles by : Peter Turchin

Download or read book Secular Cycles written by Peter Turchin and published by Princeton University Press. This book was released on 2009-08-09 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Secular Cycles elaborates and expands upon the demographic-structural theory first advanced by Jack Goldstone, which provides an explanation of long-term oscillations. This book tests that theory's specific and quantitative predictions by tracing the dynamics of population numbers, prices and real wages, elite numbers and incomes, state finances, and sociopolitical instability. Turchin and Nefedov study societies in England, France, and Russia during the medieval and early modern periods, and look back at the Roman Republic and Empire. Incorporating theoretical and quantitative history, the authors examine a specific model of historical change and, more generally, investigate the utility of the dynamical systems approach in historical applications."--BOOK JACKET.

Secular Cycles

Download Secular Cycles PDF Online Free

Author :
Publisher : Princeton University Press
ISBN 13 : 1400830680
Total Pages : 361 pages
Book Rating : 4.4/5 (8 download)

DOWNLOAD NOW!


Book Synopsis Secular Cycles by : Peter Turchin

Download or read book Secular Cycles written by Peter Turchin and published by Princeton University Press. This book was released on 2009-07-20 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many historical processes exhibit recurrent patterns of change. Century-long periods of population expansion come before long periods of stagnation and decline; the dynamics of prices mirror population oscillations; and states go through strong expansionist phases followed by periods of state failure, endemic sociopolitical instability, and territorial loss. Peter Turchin and Sergey Nefedov explore the dynamics and causal connections between such demographic, economic, and political variables in agrarian societies and offer detailed explanations for these long-term oscillations--what the authors call secular cycles. Secular Cycles elaborates and expands upon the demographic-structural theory first advanced by Jack Goldstone, which provides an explanation of long-term oscillations. This book tests that theory's specific and quantitative predictions by tracing the dynamics of population numbers, prices and real wages, elite numbers and incomes, state finances, and sociopolitical instability. Turchin and Nefedov study societies in England, France, and Russia during the medieval and early modern periods, and look back at the Roman Republic and Empire. Incorporating theoretical and quantitative history, the authors examine a specific model of historical change and, more generally, investigate the utility of the dynamical systems approach in historical applications. An indispensable and groundbreaking resource for a wide variety of social scientists, Secular Cycles will interest practitioners of economic history, historical sociology, complexity studies, and demography.

Unexpected Returns

Download Unexpected Returns PDF Online Free

Author :
Publisher :
ISBN 13 :
Total Pages : 302 pages
Book Rating : 4.3/5 ( download)

DOWNLOAD NOW!


Book Synopsis Unexpected Returns by : Ed Easterling

Download or read book Unexpected Returns written by Ed Easterling and published by . This book was released on 2005 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: Before you read any how-to investment books or seek financial advice, read Unexpected Returns, the essential resource for investors and investment professionals who want to understand how and why the financial markets are not the same now as they were in the 1980s and 1990s. In addition to explaining the fundamentals, this book takes you on a graphic journey through the seasons of the market, tying together economics and finance to explain the stock market's cycles. Using comprehensive full-color charts and graphs, it offers an in-depth exploration of what has changed over the past five years - and what you can do about it to avoid disappointment with your investments. This unique combination of investment science and investment art will enable you to differentiate between irrational hope and a rational view of the current financial markets. Based on years of meticulous research, it provides the sensible conclusions that will drive your future investment choices and give you the confidence to rely on your investment outlook, whatever your financial strategy. Book jacket.

Ages of Discord

Download Ages of Discord PDF Online Free

Author :
Publisher :
ISBN 13 : 9780996139540
Total Pages : pages
Book Rating : 4.1/5 (395 download)

DOWNLOAD NOW!


Book Synopsis Ages of Discord by : Peter Turchin

Download or read book Ages of Discord written by Peter Turchin and published by . This book was released on 2016-10-02 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: WE ARE ON THE WRONG TRACK Seventy percent of Americans (and counting) think so. The real wage of a US worker today is less than it was 40 years ago-but there are four times as many multimillionaires. As inequality grows, the politics become more poisonous. Every year, more and more Americans go on shooting sprees, killing strangers and passers-by-and now, increasingly, representatives of the state. Troubling trends of this kind are endlessly discussed by public intellectuals and social scientists. But mostly, they talk about only a small slice of the overall problem. After all, how on earth can yet another murderous rampage have anything to do with polarization in Congress? And is there really a connection between too many multimillionaires and government gridlock? Historical analysis shows that long spells of equitable prosperity and internal peace are succeeded by protracted periods of inequity, increasing misery, and political instability. These crisis periods-"Ages of Discord"-have recurred in societies throughout history. Modern Americans may be disconcerted to learn that the US right now has much in common with the Antebellum 1850s and, more surprisingly, with ancien regime France on the eve of the French Revolution. Can it really be true that there is nothing new about our troubled time, and that similar ages arise periodically for similar underlying reasons? Ages of Discord marshals Structural-Demograpic Theory and detailed historical data to show that this is, indeed, the case. The book takes the reader on a roller-coaster ride through American history, from the Era of Good Feelings of the 1820s to our first Age of Discord, which culminated in the American Civil War, to post-WW2 prosperity and, finally, to our present, second Age of Discord."

Historical Dynamics

Download Historical Dynamics PDF Online Free

Author :
Publisher : Princeton University Press
ISBN 13 : 1400889316
Total Pages : 264 pages
Book Rating : 4.4/5 (8 download)

DOWNLOAD NOW!


Book Synopsis Historical Dynamics by : Peter Turchin

Download or read book Historical Dynamics written by Peter Turchin and published by Princeton University Press. This book was released on 2018-05-08 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many historical processes are dynamic. Populations grow and decline. Empires expand and collapse. Religions spread and wither. Natural scientists have made great strides in understanding dynamical processes in the physical and biological worlds using a synthetic approach that combines mathematical modeling with statistical analyses. Taking up the problem of territorial dynamics--why some polities at certain times expand and at other times contract--this book shows that a similar research program can advance our understanding of dynamical processes in history. Peter Turchin develops hypotheses from a wide range of social, political, economic, and demographic factors: geopolitics, factors affecting collective solidarity, dynamics of ethnic assimilation/religious conversion, and the interaction between population dynamics and sociopolitical stability. He then translates these into a spectrum of mathematical models, investigates the dynamics predicted by the models, and contrasts model predictions with empirical patterns. Turchin's highly instructive empirical tests demonstrate that certain models predict empirical patterns with a very high degree of accuracy. For instance, one model accounts for the recurrent waves of state breakdown in medieval and early modern Europe. And historical data confirm that ethno-nationalist solidarity produces an aggressively expansive state under certain conditions (such as in locations where imperial frontiers coincide with religious divides). The strength of Turchin's results suggests that the synthetic approach he advocates can significantly improve our understanding of historical dynamics.

The Fourth Turning

Download The Fourth Turning PDF Online Free

Author :
Publisher : Crown
ISBN 13 : 0767900464
Total Pages : 401 pages
Book Rating : 4.7/5 (679 download)

DOWNLOAD NOW!


Book Synopsis The Fourth Turning by : William Strauss

Download or read book The Fourth Turning written by William Strauss and published by Crown. This book was released on 1997-12-29 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: NATIONAL BESTSELLER • Discover the game-changing theory of the cycles of history and what past generations can teach us about living through times of upheaval—with deep insights into the roles that Boomers, Generation X, and Millennials have to play. First comes a High, a period of confident expansion. Next comes an Awakening, a time of spiritual exploration and rebellion. Then comes an Unraveling, in which individualism triumphs over crumbling institutions. Last comes a Crisis—the Fourth Turning—when society passes through a great and perilous gate in history. William Strauss and Neil Howe will change the way you see the world—and your place in it. With blazing originality, The Fourth Turning illuminates the past, explains the present, and reimagines the future. Most remarkably, it offers an utterly persuasive prophecy about how America’s past will predict what comes next. Strauss and Howe base this vision on a provocative theory of American history. The authors look back five hundred years and uncover a distinct pattern: Modern history moves in cycles, each one lasting about the length of a long human life, each composed of four twenty-year eras—or “turnings”—that comprise history’s seasonal rhythm of growth, maturation, entropy, and rebirth. Illustrating this cycle through a brilliant analysis of the post–World War II period, The Fourth Turning offers bold predictions about how all of us can prepare, individually and collectively, for this rendezvous with destiny.

Probable Outcomes

Download Probable Outcomes PDF Online Free

Author :
Publisher :
ISBN 13 : 9781879384828
Total Pages : 256 pages
Book Rating : 4.3/5 (848 download)

DOWNLOAD NOW!


Book Synopsis Probable Outcomes by : Ed Easterling

Download or read book Probable Outcomes written by Ed Easterling and published by . This book was released on 2011-01 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Probable outcomes continues the Crestmont Research tradition of extensive full-color charts and graphs that enable investors and advisors to differentiate between irrational hope and a rational view of the stock market. This book's empowering insights prepare you to take action during the current period of below -average returns. The unique combination of investment science and investment art explores the market from several perspectives and addresses the significant implications for a broad range of investors. Beyond concepts, Ed Easterling delivers a dramatic analysis of the likely course for the stock market over the 2010 decade. Investors and advisors will benefit from this timely outlook and its message of reasonable expectations and value-added investing. This essential resource offers a compelling understanding of the key fundamental principles that drive the stock market. Derived from years of meticulous research, Probably outcomes provides sensible conclusions that will guide your future investment choices and allow you to invest with confidence, whatever your financial strategy."--

Money, Bank Credit, and Economic Cycles

Download Money, Bank Credit, and Economic Cycles PDF Online Free

Author :
Publisher : Ludwig von Mises Institute
ISBN 13 : 1610163885
Total Pages : 938 pages
Book Rating : 4.6/5 (11 download)

DOWNLOAD NOW!


Book Synopsis Money, Bank Credit, and Economic Cycles by : Jesús Huerta de Soto

Download or read book Money, Bank Credit, and Economic Cycles written by Jesús Huerta de Soto and published by Ludwig von Mises Institute. This book was released on 2006 with total page 938 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Introduction to Social Macrodynamics

Download Introduction to Social Macrodynamics PDF Online Free

Author :
Publisher : Editorial URSS
ISBN 13 : 5484005590
Total Pages : 33 pages
Book Rating : 4.4/5 (84 download)

DOWNLOAD NOW!


Book Synopsis Introduction to Social Macrodynamics by : A. V. Korotaev

Download or read book Introduction to Social Macrodynamics written by A. V. Korotaev and published by Editorial URSS. This book was released on 2006 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Religion and life cycles in early modern England

Download Religion and life cycles in early modern England PDF Online Free

Author :
Publisher : Manchester University Press
ISBN 13 : 1526149222
Total Pages : 242 pages
Book Rating : 4.5/5 (261 download)

DOWNLOAD NOW!


Book Synopsis Religion and life cycles in early modern England by : Caroline Bowden

Download or read book Religion and life cycles in early modern England written by Caroline Bowden and published by Manchester University Press. This book was released on 2021-10-12 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Religion and life cycles in early modern England assembles scholars working in the fields of history, English literature and art history to further our understanding of the intersection between religion and the life course in the period c. 1550–1800. Featuring chapters on Catholic, Protestant and Jewish communities, it encourages cross-confessional comparison between life stages and rites of passage that were of religious significance to all faiths in early modern England. The book considers biological processes such as birth and death, aspects of the social life cycle including schooling, coming of age and marriage and understandings of religious transition points such as spiritual awakenings and conversion. Through this inclusive and interdisciplinary approach, it seeks to show that the life cycle was not something fixed or predetermined and that early modern individuals experienced multiple, overlapping life cycles.

The 17.6 Year Stock Market Cycle

Download The 17.6 Year Stock Market Cycle PDF Online Free

Author :
Publisher : Harriman House Limited
ISBN 13 : 0857193090
Total Pages : 83 pages
Book Rating : 4.8/5 (571 download)

DOWNLOAD NOW!


Book Synopsis The 17.6 Year Stock Market Cycle by : Kerry Balenthiran

Download or read book The 17.6 Year Stock Market Cycle written by Kerry Balenthiran and published by Harriman House Limited. This book was released on 2013-03-11 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: How do we know where we are in the current stock market cycle? Are we in the midst of a new long term bull market or a market rally within an ongoing bear market? The answers to the above questions are critical to forming an appropriate investment strategy to plan for the future. The difference between anticipating the end of a secular (or cyclical) bull market and reacting to the significant crash that follows will have a big impact on anyone's investment returns and retirement plans. This book is concerned with cycles. A cycle is a sequence of events that repeat over time. The outcome won't necessarily be the same each time, but the underlying characteristics are the same. A good example is the seasonal cycle. Each year we have spring, summer, autumn and winter, and after winter we have spring again. But the weather can, and does, vary a great deal from one year to another. And so it is with the stock market. Kerry Balenthiran has studied stock market data going back 100 years and discovered a regular 17.6 year stock market cycle consisting of increments of 2.2 years. He has also extrapolated the cycle forwards to provide investors with a market roadmap stretching out to 2053. He describes this in detail and outlines the changing character of the stock market through the different phases of the 17.6 year stock market cycle. Whether you are an investment professional or private investor, this book provides a fascinating insight into the cyclical nature of the stock market and enables you to ensure that you have the right strategy for the prevailing stock market conditions.

War and Peace and War

Download War and Peace and War PDF Online Free

Author :
Publisher : Penguin
ISBN 13 : 9780452288195
Total Pages : 405 pages
Book Rating : 4.2/5 (881 download)

DOWNLOAD NOW!


Book Synopsis War and Peace and War by : Peter Turchin

Download or read book War and Peace and War written by Peter Turchin and published by Penguin. This book was released on 2007 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: Argues that the key to the formation of an empire lies in a society's capacity for collective action, resulting from people banding together to confront a common enemy, and describing how the growth of empires leads to a growing dichotomy between rich and poor, increasing conflict instead of cooperation, and inevitable dissolution. Reprint. 25,000 first printing.

Summary of Peter Turchin & Sergey A. Nefedov's Secular Cycles

Download Summary of Peter Turchin & Sergey A. Nefedov's Secular Cycles PDF Online Free

Author :
Publisher : Everest Media LLC
ISBN 13 :
Total Pages : 71 pages
Book Rating : 4.8/5 (225 download)

DOWNLOAD NOW!


Book Synopsis Summary of Peter Turchin & Sergey A. Nefedov's Secular Cycles by : Everest Media,

Download or read book Summary of Peter Turchin & Sergey A. Nefedov's Secular Cycles written by Everest Media, and published by Everest Media LLC. This book was released on 2022-05-23T22:59:00Z with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: Please note: This is a companion version & not the original book. Sample Book Insights: #1 The modern science of population dynamics began with the publication of An Essay on the Principle of Population by Thomas Robert Malthus in 1798. Malthus pointed out that when population increases beyond the means of subsistence, food prices increase, real wages decline, and per capita consumption drops. #2 The Malthusian-Ricardian theory was first put forward by historians such as Michael Postan and Emmanuel Le Roy Ladurie. It explained the long-term price trends of food better than the monetarist theory. #3 The Malthusian model, which was the basis of Postan and Le Roy Ladurie’s theories, was flawed because it ignored the social structure. It attempted to explain long-term trends in economic growth and income distribution, but it was doomed from the start because it ignored the most important part of the equation: the surplus-extraction relationship between the direct producers and the ruling class. #4 The Malthusian model neglects an important explanatory variable: the state. States are not simply created and manipulated by dominant classes, but they also compete with the elites in appropriating resources from the economy.

The Long Good Buy

Download The Long Good Buy PDF Online Free

Author :
Publisher : John Wiley & Sons
ISBN 13 : 1119689007
Total Pages : 212 pages
Book Rating : 4.1/5 (196 download)

DOWNLOAD NOW!


Book Synopsis The Long Good Buy by : Peter C. Oppenheimer

Download or read book The Long Good Buy written by Peter C. Oppenheimer and published by John Wiley & Sons. This book was released on 2020-04-09 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: PRAISE FOR THE LONG GOOD BUY: "Oppenheimer offers brilliant insights, sage advice and entertaining anecdotes. Anyone wishing to understand how financial markets behave – and misbehave – should read this book now." Stephen D. King, economist and author of Grave New World: The End of Globalisation, the Return of History "Peter has always been one of the masters of dissecting financial markets performance into an understandable narrative, and in this book, he pulls together much of his great thinking and style from his career, and it should be useful for anyone trying to understand what drives markets, especially equities." Lord Jim O'Neill, Chair, Chatham House "A deeply insightful analysis of market cycles and their drivers that really does add to our practical understanding of what moves markets and long-term investment returns." Keith Skeoch, CEO, Standard Life Aberdeen "This book eloquently blends the author's vast experience with behavioural finance insights to document and understand financial booms and busts. The book should be basic reading for any student of finance." Elias Papaioannou, Professor of Economics, London Business School "This is an excellent book, capturing the insights of a leading market practitioner within the structured analytical framework he has developed over many years. It offers a lively and unique perspective on how markets work and where they are headed." Huw Pill, Senior Lecturer, Harvard Business School "The Long Good Buy is an excellent introduction to understanding the cycles, trends and crises in financial markets over the past 100 years. Its purpose is to help investors assess risk and the probabilities of different outcomes. It is lucidly written in a simple logical way, requires no mathematical expertise and draws on an amazing collection of historical data and research. For me it is the best and most comprehensive introduction to the subject that exists." Lord Brian Griffiths, Chairman - Centre for Enterprise, Markets and Ethics, Oxford

The Little Book of Stock Market Cycles

Download The Little Book of Stock Market Cycles PDF Online Free

Author :
Publisher : John Wiley & Sons
ISBN 13 : 111828349X
Total Pages : 245 pages
Book Rating : 4.1/5 (182 download)

DOWNLOAD NOW!


Book Synopsis The Little Book of Stock Market Cycles by : Jeffrey A. Hirsch

Download or read book The Little Book of Stock Market Cycles written by Jeffrey A. Hirsch and published by John Wiley & Sons. This book was released on 2012-07-11 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: Jeffrey Hirsch discusses how to capture market-beating returns by following specific stock market cycles While predicting the direction of the stock market at any given point is difficult, it's a fact that the market exhibits well-defined and sometimes predictable patterns. While cycles do not repeat exactly all of the time, statistical evidence suggests that cyclical tendencies are very strong and should not be ignored by investors. The Little Book of Stock Market Cycles will show you how to profit from these recurring stock market patterns and cycles. Written by Jeffrey Hirsch, President of the Hirsch Organization and Editor-in-Chief of the Stock Trader's Almanac, this reliable resource explains why these cycles occur, provides the historical evidence behind them, and shows you how to capture consistent profits from them moving forward. In addition to describing his most widely followed cycles and patters, Hirsch also discusses both longer term boom-bust economic cycles and shorter term tendencies involving the best days, weeks, and months of the year to trade the market. The methods found here follow everything from presidential election cycles to the "Santa Claus" effect Written by Jeffrey Hirsch, the pre-eminent authority on market cycles and seasonal patterns The strategies explored are easy-to-implement, and based on research that has proven profitable over the course of time For investors looking to beat the buy-and-hold philosophy, The Little Book of Stock Market Cycles will provide simple, actionable ideas that have stood the test of time and consistently outperformed the market.

Painted Palaces: The Rise of Secular Art in Early Renaissance Italy

Download Painted Palaces: The Rise of Secular Art in Early Renaissance Italy PDF Online Free

Author :
Publisher : Penn State Press
ISBN 13 : 9780271048307
Total Pages : 348 pages
Book Rating : 4.0/5 (483 download)

DOWNLOAD NOW!


Book Synopsis Painted Palaces: The Rise of Secular Art in Early Renaissance Italy by :

Download or read book Painted Palaces: The Rise of Secular Art in Early Renaissance Italy written by and published by Penn State Press. This book was released on 2009 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: Even many Renaissance specialists believe that little secular painting survives before the late fifteenth century, and its appearance becomes a further argument for the secularizing of art. This book asks how history changes when a longer record of secular art is explored. It is the first study in any language of the decoration of Italian palaces and homes between 1300 and the mid-Quattrocento, and it argues that early secular painting was crucial to the development of modern ideas of art. Of the cycles discussed, some have been studied and published, but most are essentially unknown. A first aim is to enrich our understanding of the early Renaissance by introducing a whole corpus of secular painting that has been too long overlooked. Yet "Painted palaces" is not a study of iconography. In examining the prehistory of painted rooms like Mantegna's Camera Picta, the larger goal is to rethink the history of early Renaissance art.

Forecasting Financial and Economic Cycles

Download Forecasting Financial and Economic Cycles PDF Online Free

Author :
Publisher : John Wiley & Sons
ISBN 13 : 0471845442
Total Pages : 545 pages
Book Rating : 4.4/5 (718 download)

DOWNLOAD NOW!


Book Synopsis Forecasting Financial and Economic Cycles by : Michael P. Niemira

Download or read book Forecasting Financial and Economic Cycles written by Michael P. Niemira and published by John Wiley & Sons. This book was released on 1994-03-31 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: Gain the knowledge and skills that can help you exploit instability. No book can help you construct foolproof forecasting systems that will ensure you'll accurately predict economic turning points every time. But with Niemira and Klein's Forecasting Financial and Economic Cycles on hand, you'll be able to significantly strengthen your ability to measure, monitor, and forecast important fluctuations. Part history, it provides you with essential background material on the characteristics and causes of economic volatility. It offers accessible coverage of the classical business cycle, the five basic types of economic cycles as determined by leading economists, and evolving ideas on the forces driving instability—ranging from simple unicausal theories, more complex Keynesian theory, to new classical macroeconomics. In addition, its concise review of America's economic past highlights the lessons that can be learned from the various cycles experienced since shortly before World War II. Part handbook, Forecasting Financial and Economic Cycles presents the full spectrum of statistical techniques used to measure cycles, trends, seasonal patterns, and other vital changes, offering you step-by-step guidance on applying a specific method and detailing its uses and limitations. It goes on to show how youcan adapt particular techniques to assess, track, and predict: Industry cycles—including an objective, tailor-made forecasting tool Regional business cycles—including a survey of regional indicators International business cycles—with an international business cycle chronology Inflation cycles—plus "12 little-known facts" about this complex cycle Financial cycles—covering credit, monetary, and interest rate cycles Stock market cycles—with advice on achieving more disciplined trading Based on outstanding scholarship and years of practical experience, Forecasting Financial and Economic Cycles will serve as an invaluable tool for practitioners like you whose decision-making—and profit margin—depend on accurately assessing today's often uncertain economic climate. "Forecasting Financialand Economic Cycles provides a lively survey of the many ways that cyclical economic activity has been dissected and analyzed. With this book, an astute reader may even be able to anticipate the next cyclical turn." —Samuel D. Kahan, Chief Economist Fuji Securities, Inc. "The definitive book on the most important and enduringfeature of an often mist-bound economic landscape: the business cycle." —Alfred L. Malabre, Jr., Economics Editor, The Wall Street,Journal "Niemira and Klein cover both the theory of economic cyclesand methods for forecasting them. They provide one of the most comprehensive and current reviews of academic studies of economic cycles to be found anywhere." —Anthony F. Herbst, Professor of Finance, The University of Texas at El Paso "This book succeeds as a comprehensive, balanced, and accessible treatment of fluctuations in economic and financial activity. It should prove useful to all those in industry and finance who wish to understand and analyze the trends and changes in the modern dynamic economy." —Victor Zarnowitz, Professor Emeritus of Economics and Finance, University of Chicago