GRT DEPRSN 1990CST

Rating:
Summary: the early 1990s recession was pretty bad!
Review: Batra predicted in 1985 that a grotesquely unequal distribution of wealth would cause a depression in 1990. Establishment economists mocked his book. Yet, lo and behold, there was a recession in 1990 which lingered for quite some time. Even after the slow and weak recovery, real wages for the bottom 80% of the labor force did not start to rise until late 1996. Batra combines an interesting eastern theory of social cycles with modern economic theory. His reforms are fundamental and humane. He basically argues that inequality causes purchasing power to decline, thus precipitating recessions and depressions. Batra also notes that all the standard modern economic theories -- from Keynesianism to supply-sideism to monetarism -- have failed to rid the world of poverty and instability. He argues convincingly that these theories only address the symptoms of the problem, and not the root cause. All in all, Batra made a bold forecast which pretty much was on the mark. His reforms are interesting also, for they combine the best features of dynamic capitalism with the best features of egalitarian socialism.

Rating:
Summary: Total nonsense!
Review: Batra's 1985 prediction of a world-wide depression in 1990 did not happen. This guy continues to pump out economic trash. Those who buy his books - - and believe Batra's wild-eyed rantings and ravings - - are in serious need of help. Get a life!

Rating:
Summary: We should all thank Ravi Batra
Review: We should all be for Mr. Ravi Batri. By selling enough copies of this book and its sequel ("Surviving the Great Depression of 1990"), he singlehandedly prevented worldwide economic collapse!