Description
Martino Fine Books The Long Waves in Economic Life by Nikolai D Kondratieff
2014 Reprint of 1935 English Translation. Full facsimile of the original edition. Not reproduced with Optical Recognition Software. Originally published in 1926 Kondratieffs theory claims that the period of the wave ranges from forty to sixty years and that the cycles consist of alternating intervals of high growth with slower growth. Unlike the shortterm business cycle the long wave of this theory is not accepted by current mainstream economics. In 1939 Joseph Schumpeter suggested naming the cycles Kondratieff waves in his honor and the term has stuck. The theory has had more influence with critics of the modern economic system than with its defenders but remains relevant to this day.show more