Is there such thing as cycles for the world economy?
I'm guessing Perez cycles (covering an 'installation period' and a 'deployment period') would be laid out as such:
1870-1920 (from severe recession towards the Belle Epoque)
1920-1980 ("canal and railway manias ending in panics, the roaring twenties ending in the crash of 1929", followed by the booming post-war era)
1980-2030 (dot com bubble ending in the 2000 NASDAQ crash, and financial bubble ending in the 2008 crash, probably followed by a booming period in the forthcoming decades)
I'm guessing Perez cycles (covering an 'installation period' and a 'deployment period') would be laid out as such: