ABSTRACT
The Atlantic economy of the period 1840–1924 was succeeded after World War II by a different balance of forces which gave the phenomenon of brain drain a special but passing significance. We now come to the solemn question of whether we should say farewell to the Kuznets cycle. Abramovitz, as chief mourner, has written a moving epitaph. ‘The Kuznets cycle in America lived, it flourished, it had its day, but its day is past. Departed, it leaves to us who survive to study its works many insights into the kinds of connections and responses which go together to make for spurts and retardations in development. We are the wiser for its life, but it is gone. Requiescat in pace. Gone but not forgotten.’ 1 For my own part, I am inclined to repeat Mark Twain's remark when he read an obituary of himself in the papers; he said that the news was somewhat exaggerated.
