ABSTRACT
There are many ways in which the idea of cyclical form might be brought to bear in an analysis of Irish cultural history. One of the most relatable in the context of this book is the pattern of boom and bust which Marxists regard as characteristic of a capitalist economy. According to this theory a boom is driven by the rapid expansion of credit to the private sector, which leads to inflation, speculative over-borrowing, a rise in consumption, spiralling property prices and so on. After a point of critical mass is reached, there follows a credit crunch, which leads to a financial crisis, which leads in turn to economic recession.1
