Kondratieff cycle

The Kondratieff cycle is a business cycle named after ND Kondratieff (Russian economist), also known as the "Theory of Long Waves". According to the hypothesis, which Kondratieff was the first economist to try to substantiate with an extensive statistical analysis, the economic development between expansion and contraction takes place in repeating cycles of 48-60 years. The long waves of economic development, according to Kondratieff, reside in the capitalist economic system.

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