Desai sees the global economic slowdown following the Lehman collapse and the transatlantic financial crisis in 2008 as the beginning of the downswing of a
Kondratieff cycle, after the 1992-2007 boom period.
The long
Kondratieff cycle lasts 50-60 years (Diebolt, Doliger, 2005).
The Sixth
Kondratieff Cycle the Era of Financial Market Instruments: A Reflection on the Australia vs US Subprime Mortgage Market, International Journal of Economics and Finance, 3(5), 37-41.
The
Kondratieff cycle is completed in 50-60 years, the Juglar cycle in 7-10 years, and the Kitchin cycle in 2-3 years.
There is also the 56-year
Kondratieff cycle of rise and fall in business cycles ending in the Kondratieff winter or depression.
Another possible explanation of the productivity slowdown is the transition from one set of technologies and industries to another, the famous
Kondratieff cycle.
The best heuristic model for the Age of State Socialism is the theory of long waves with its half a century long
Kondratieff cycle beginning after World War II and ending with the 1989 revolutions.
Similarly, Mandel (1980:36-61) argued that in European countries over the past one hundred years the intensification of workers' militancy during the long upswing phase of prosperity of the
Kondratieff cycle has forced employers to pursue "radical" technological innovations.
In the third chapter, a series of possible future economic scenarios presents a broad vision of the BRIMCs' nations in the 21st century, using hegemonic cycles and
Kondratieff cycles theories.
The
Kondratieff cycles thus last about 40-60 years.
One is the so-called
Kondratieff cycles that historically were 50--60 years in length.
Couching the economic evolution of the country within
Kondratieff cycles, McGillivray revisits Innis's staples theory, the subsequent era of economic protectionism and finally Canada's full economic integration into NAFTA.
