Will 2024 events set off a headwind or tailwind?

Old theories of social and economic cycles were back in discussion as politics and economics impacted each other over the past year. Expect the implications to begin unfolding in 2025

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Another year recedes for a new one to begin, laden with our collective hopes and expectations. The end of any time cycle is a good moment for honest reviews and barebone analysis. The past 12 months have been quite momentous, etching new lines in the sand and conjuring images that inspire both awe and dread. Students of the social sciences-particularly history-will find many similarities with events from almost a century ago, renewing faith in philosopher George Santayana's famous line that those who do not remember the past are condemned to repeat it. Unsurprisingly, there is also renewed interest in social-cycle theories of sociology which posit that history and societal phases get repeated in cycles. Such theories have counterparts even in economics, which are also getting a fresh relook with the help of analytical tools. This rekindled interest seems motivated by the shape of events in 2024, as well as related developments in preceding years.