The end or modification of the student loan system will suddenly limit not only how much universities can raise costs but whether they can maintain them.

Further complicating this were high tax rates imposed on the upper income brackets. The tax rate on incomes over $250,000 was 70 percent. Wealthy investors, calculating risk, saw little reason to invest when success would cost 70 percent of the gain. Potential entrepreneurs were also discouraged from taking a risk where success was a long shot and

The fifth began with Ronald Reagan and will end with someone whose name we don’t know yet, but he or she will likely be elected president in 2028.

General Motors was an example of a corporation that had diffused, grown large and complex, and was therefore overstaffed.

The older ones will be the remnant of the old technocracy that had been defeated in the 2020s, and the younger will be the ones who incorporate a range of formerly hostile groups to form their own party.

The institutional shift will weaken the credibility of the technocracy heading into the 2028 election.

The crisis was not the crash of the markets. Rather, it was what resulted from the crash: a decline in employment and the decline of demand for manufactured products. As sales went down, employment went down. Therefore demand went down, and sales went down further, in a spiral that could not be arrested

This coalition will demand, as is normally the case, a shift in the distribution of power and wealth, but in doing so will be redefining once again the social landscape of America.

We have seen the same vitriol emerge in the 2016 election, both from those supporting and from those opposing Trump. Voters in the Midwest who had been historically Democratic shifted in sufficient numbers to tilt the Electoral College and the election.