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Institutional Restructuring and Nihilism in Society
The global landscape presents different timings of change, with the Muslim world and Sub-Saharan Africa showing variations. Economically relevant regions experience global changes. The concept of the fourth turning, influenced by the Kondratiev wave, relates to investment cycles and prescriptive events like the 1929 crash followed by surreal periods until the 2020 COVID crisis. The Polybius cycle emphasizes the cyclical nature of hard times creating strong individuals and vice versa. There is a fundamental restructuring of institutions seen through disinvestment in institutions like churches and educational systems, reflecting societal changes. Cynicism and nihilism lead individuals to outsource experiences to the market, prompting a shift from free market advocacy to recognizing the guided nature of markets. Society is compared to an aquarium that requires management for success, underscoring the need to shift away from a focus on markets.