Kondratiev
Kondratiev refers to the Kondratiev wave theory, also known as long waves or super long waves. This theory was developed by Nikolai Kondratiev, a Russian economist, in the 1920s. He observed cyclical patterns in capitalist economies, suggesting that they experience prolonged periods of expansion and contraction. These cycles, according to Kondratiev, typically last between 40 and 60 years.
Kondratiev's research identified several key phases within these long waves. The first phase is a period of
The theory has been influential but also controversial. Critics argue that the identified cycles are not always