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 ?
Key words: reduced differential transform method, symmetric regularized long wave, coupled problem, and mixed partial derivatives.
Contract awarded for Symposium on Long Wave Mitigation - Geraldton Harbour
Owen introduces the second long wave of regime promotion with Louis-Napoleon Bonaparte.
This article has examined the question of social structures of accumulation and long waves in Australia over past several decades.
Goldstein has stated most clearly the belief that the two are independent: "There is no fixed number of [economic] long waves that make up a cycle of hegemony.
Chaos theory is the main tool employed in the book to analyze data for long wave propensities.
The sunlight warms what it touches; that warmth radiates around your home--in long waves.
In a very recent study [9], using an asymptotic expansion technique, the asymptotic equations governing unidirectional wave propagation of small-butfinite amplitude long waves in the nonlinear nonlocal elastic medium were derived.
This paper updates and expands my earlier study on long waves [Synnott 1995].
Schumpeter took the idea seriously, although there were significant differences between his and Kondratieff's dating of long waves in series such as production and consumption, which have strong secular trends.