Kondratieff Wave

An economic theory of the Soviet economist Kondratieff stating that the economies of the western world are susceptible to major up-and-down "supercycles" lasting 50 to 60 years.

Kondratiev Wave

A theory stating that capitalist economies go through phases much longer than ordinary business cycles. That is, capitalist economies have cycles of 45-60 years, where they perform alternately well and then poorly. The cycle then starts over. For example, the Second Industrial Revolution lasted from approximately 1850 to 1900; the global economy performed well in the first half of the cycle and was characterized by depression in the second half. Kondratiev wave theory was proposed by a Soviet economist and is more popular in Marxist circles than outside of them. See also: Kremlinomics.

References in periodicals archive ?

According to Kondratieff wave theory, the last Kondratieff winter ended with the stock market low of 1949.

The Road to Destruction

of Elliott Wave International had this praise for the book, "The Kondratieff Wave is so grand a force and so fully intertwined in our lives that it is exceedingly difficult to present comprehensively.

Announcing Jubilee on Wall Street; An Optimistic Look at the Global Financial Crash

I wonder if there is a moral kondratieff wave soon to wash over us for our sins of omission, sweeping away our authority and prestige, if not our wealth.

Journalists, Inc

It draws upon Braudelian notions of materiality and everyday life, world systems perspectives and Kondratieff waves.