Kondratiev Wave

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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 ?
In Sections 2 and 3, following Didenkulova and Pelinovsky (2011a, 2011b) we briefly describe long wave propagation and run-up in a parabolic bay.
One of the major parameters characterizing long wave run-up on a beach is the wave breaking parameter Br.
It seeks to critically evaluate the performance of capitalist economies according to whether they are undergoing long wave upswing (above 2.
To gain insight into the degree that the institutions support long wave upswing (for capitalist development) we examine in some detail the record of accumulation and growth for Australia as part of the world-system, and then supplement this with broader measures of long wave upswing.
Long wave theory is the philosophy that capitalism undergoes long movements in core performance, including upswing and downswing, beyond simply business cycles.
In this section we briefly review the unidirectional wave equations derived in [9] for small-but-finite amplitude long waves propagating in the one-dimensional nonlocal media governed by (4) and (5).
On the change of form of long waves advancing in a rectangular channel, and on a new type of long stationary waves.
Model equations for long waves in nonlinear dispersive systems.
Part of the long wave process seems to be a shifting pattern of regulation and government oversight.
The Long Wave Cycle," translated and republished by Richardson & Snyder in 1984.
While the evidence of long waves in overall economic activity is ambiguous, there have clearly been extended periods of rising and falling inflation.
It does seem that one important force in generating long waves in inflation is the time it takes for the body politic to forget the lessons of the past.