Historians get really nervous about patterns. That’s changing a bit now. And the truth of it is there’s not much way to avoid the 500-year cycle. You almost have to work too hard to unsay it, it’s so obviously there in every way. And if you say every 500 years we go through one, then you immediately say we’re in the 21st century and baby are we going through one.
I see a set of constraints facing us in the future, and they’re all going to be very expensive. First is funding retirements for the Baby Boom generation. Second is continuing increases in the costs of healthcare. The third is replacing decaying infrastructure. The fourth is adapting to climate change and repairing environmental damage. The fifth is developing new sources of energy. The sixth is what I see as in all likelihood continuing high military costs. The seventh is the costs of innovation.