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Kondratieff Wave |
Also found in: Wikipedia, Hutchinson | 0.01 sec. |
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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. Kondratieff 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, during which they perform alternately well and then poorly. The cycle then starts over. For example, during the Second Industrial Revolution, which 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. Kondratieff wave theory was proposed by a Soviet economist and is most popular within Marxist circles. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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