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Kondratieff Wave

Definition

In economics, Kondratiev waves are hypothesized cycle-like phenomena in the modern world economy.

Kondratieff Wave

What is 'Kondratieff Wave'

A long-term cycle present in capitalist economies that represents long-term, high-growth and low-growth economic periods. This theory was founded by Nikolai D. Kondratieff (also spelled "Kondratiev"), a Communist Russia era economist who noticed an approximately 50-year cycle in European agricultural commodity prices and copper prices. Kondratieff believed that these long cycles were a feature of the economic activity of capitalist nations, and that they involved periods of evolution and self-correction.

Also known as "Kondratiev waves", "supercylces", "K-waves", "surges" or "long waves".

Explaining 'Kondratieff Wave'

The K-Wave cycle theory was watched closely 50 years following the market crash of 1929, after which time it was deemed pertinent to economic and political cycles, but not useful when applied as a stock market theory. Kondratieff's views were disliked by Communist Russia because he supported the idea that capitalist nations experienced cycles and were not necessarily on a path to destruction. As a result, he ended up in a concentration camp in Siberia, where he faced the death penalty in 1938.


Further Reading

… analysis of world GDP dynamics: Kondratieff waves, Kuznets swings, Juglar and Kitchin cycles in global economic development, and the 2008–2009 economic crisis… analysis of world GDP dynamics: Kondratieff waves, Kuznets swings, Juglar and Kitchin cycles in global economic development, and the 2008–2009 economic crisis
escholarship.org [PDF]
… deny the presence of any economic cycles altogether (the title of the respective section in a classical Principles of Economics textbook by … Kondratieff waves in pre-1945/50 world GDP data … 1, for the 1870–1945/50 period the K-wave pattern is not as easily visible as after 1945/50 …

Global population ageing, the sixth kondratieff wave, and the global financial systemGlobal population ageing, the sixth kondratieff wave, and the global financial system
books.google.com [PDF]
… deny the presence of any economic cycles altogether (the title of the respective section in a classical Principles of Economics textbook by … Kondratieff waves in pre-1945/50 world GDP data … 1, for the 1870–1945/50 period the K-wave pattern is not as easily visible as after 1945/50 …

The impact of the financial–economic crisis on sustainability transitions: Financial investment, governance and public discourseThe impact of the financial–economic crisis on sustainability transitions: Financial investment, governance and public discourse
www.sciencedirect.com [PDF]
… deny the presence of any economic cycles altogether (the title of the respective section in a classical Principles of Economics textbook by … Kondratieff waves in pre-1945/50 world GDP data … 1, for the 1870–1945/50 period the K-wave pattern is not as easily visible as after 1945/50 …

Forthcoming Kondratieff wave, Cybernetic Revolution, and global ageingForthcoming Kondratieff wave, Cybernetic Revolution, and global ageing
www.sciencedirect.com [PDF]
… deny the presence of any economic cycles altogether (the title of the respective section in a classical Principles of Economics textbook by … Kondratieff waves in pre-1945/50 world GDP data … 1, for the 1870–1945/50 period the K-wave pattern is not as easily visible as after 1945/50 …

Kondratieff waves in global invention activity (1900–2008)Kondratieff waves in global invention activity (1900–2008)
www.sciencedirect.com [PDF]
… deny the presence of any economic cycles altogether (the title of the respective section in a classical Principles of Economics textbook by … Kondratieff waves in pre-1945/50 world GDP data … 1, for the 1870–1945/50 period the K-wave pattern is not as easily visible as after 1945/50 …

A theory of the general causes of long waves: War, general purpose technologies, and economic changeA theory of the general causes of long waves: War, general purpose technologies, and economic change
www.sciencedirect.com [PDF]
… deny the presence of any economic cycles altogether (the title of the respective section in a classical Principles of Economics textbook by … Kondratieff waves in pre-1945/50 world GDP data … 1, for the 1870–1945/50 period the K-wave pattern is not as easily visible as after 1945/50 …

The long waves in economic lifeThe long waves in economic life
www.jstor.org [PDF]
… deny the presence of any economic cycles altogether (the title of the respective section in a classical Principles of Economics textbook by … Kondratieff waves in pre-1945/50 world GDP data … 1, for the 1870–1945/50 period the K-wave pattern is not as easily visible as after 1945/50 …

The Kondratieff Wave: Has the United States economy entered a long-term downtrend?The Kondratieff Wave: Has the United States economy entered a long-term downtrend?
journals.sagepub.com [PDF]
… deny the presence of any economic cycles altogether (the title of the respective section in a classical Principles of Economics textbook by … Kondratieff waves in pre-1945/50 world GDP data … 1, for the 1870–1945/50 period the K-wave pattern is not as easily visible as after 1945/50 …


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