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The cycles of life or nothing new under the Sun

The Bible's Book of Ecclesiastes says there is nothing new under the Sun, hinting that new happenings are nothing more than revamped versions of yesterday's occurrences. For those who do not believe the Scriptures, consider the macroeconomic books, that suggest there are Economic cycles of prosperity and scarcity, caused by a number of external factors, such as supply and demand imbalances, climatic factors, extreme speculation. This tells us that continuous prosperity on a macro level is a fallacy. Let us talk about another book, Autocourse. I was reading an annual from the early 70s, and the writer forecast problems ahead for the world of racing; He simply said there are too many categories in European racing, and the market could not support it. In the late 60's,  there was F1, European F2, British, French and Italian F3, World Makes Championship and the European and British Touring Car Championships. Then, with the advent of commercial sponsorship, beginning of TV c