The values of Private Interest bear strong resemblance to Adam Smith’s theories of the laissez-faire economy (free market) and also the invisible hand.
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The cyclical theory refers to a model used by historian Arthur Schlesinger to attempt to explicate the fluctuations in politics throughout American History.
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During the study of American history, no time period may be defined entirely as one stage or another of the Schlesinger cycle, nor can all the aspects of an era be generalized as to be proceeding in one direction.
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