Regular Economic Cycles: Money, Inflation, Regulation and Depressions

Batra, author of the bestselling Great Depression of 1990 , here presents yet more claptrap masquerading as economics, applying Indian guru P. R. Sarkar's metaphysical musings to macroeconomics and predicting that the ``world's greatest depression ever'' will begin in 1990. Sarkar divides humanity into four classes--laborers, warriors, intellectuals and acquisitors (reminiscent of Hinduism's caste system)--and asserts that history is rigidly determined by cycles of class succession. The U.S., supposedly, is now in the acquisitive stage; Batra claims that a 30-year cycle of monetary growth, inflation and regulation is responsible. He argues that increasing disparities in wealth cause depressions; to reduce the disparities and prevent the depressions, Batra recommends Sarkar's proposals including a confiscatory wealth tax, limitations on income and the size of corporations, and nationalization of a number of industries. (Oct.)