TY - JOUR T1 - A Way Forward JF - The Journal of Wealth Management SP - 10 LP - 16 DO - 10.3905/jwm.2009.12.1.010 VL - 12 IS - 1 AU - Dean LeBaron AU - Walter Deemer AU - Mark Ungewitter Y1 - 2009/04/30 UR - https://pm-research.com/content/12/1/10.abstract N2 - This article puts recent market behavior into historical context. The authors review several explanatory theories based on long-term market cycles. Assuming that these long-wave boom-to-bust cycles will persist, they consider implications for financial market structure and government policy. In summary, they agree with the following “Austrian”economic principles:1) the boom causes the bust; 2) the bust is proportionate to the boom; 3) major intervention is likely to cause major unintended consequences; and 4) sound money is the best policy in all environments. They conclude with some thoughts on monetary reform and offer a potential way forward, and hope and expect that this article will stimulate more research in long-wave studies and solutions that might arise from them.TOPIC: Financial crises and financial market history ER -