What is Kondratiev's wave?

Kondratiev Wave is an economic cycle in the free market predicted and named after the Soviet economist Nikolai Kondratiev at the beginning of the 20th century. While the Kondratiev wave states that the economies are undergoing a cycle of recurrent periods of boom and bust about every 50 years known as Super -Cycles, this concept is not widely accepted by 21 ^{st -Letury Economs. This is, despite the fact that Kondratiev effectively predicted the 1929 stock market known as Black Thursday based on a similar accident in 1870 and documented several other economic cycles supporting its theory, which ranged from 1789 to 1926.}

Economic theory of Kondratiev was given extensive attention to the publishing of his book in 1925tusks . Refining Research from Earlier Work by Netherlands Economics Jacob Van Gelder and Samuel de Wolff in 1913, Kondratiev Produced record of HIS Super-Cycles While Employed by the Agricultural Academy and Business Research Institute in Russia Until Criticized by Stalin, However, As They Conflicted with Soviet Economic Policy, and He Was Sent to the Gulag System of Forced Labor Camps From during the Cold War The ideas of being socialist and left -wing propaganda. President Barack Obama in the US was described as support for such socialist ideas by his critics soon after being elected president in 2008.

The Kondratiev cycle ranges from 50 to 60 years. Evidence for IT also exist in ancient times, including the documentation of economic cycles by the Mayan Civilizations, the ancestors of the Israeli nation and the Greek and the Greek andRoman historians. The cycle of boom and bust is said to be constantly going through four stages. Inflation growth is followed by stagflation, where inflation continues, but unemployment also increases and consumers' demand decreases. The third phase is the deflation, where both the price levels for the goods and the availability of the loan decreases. The fourth phase is depression, where the lengthy period of high unemployment and low levels of production and investment occurs.

These periods of the Kondratiev wave pattern were compared with four seasons. Inflation is categorized as a period of spring growth and peaceful expansion of trade and summer begins the period of stagflation and a decrease in consumer demand often involving the outbreak of war. The autumn period is characterized as a deflationary period of war recovery, where consumer prices are falling and the fourth period of winter includes a renewed war and low level of civil investment.

On the US Secular Market, the Kondratiev wave was documented in four historical periods where P was followedOzorious ability to monitor the seasonal boom and bust cycle that predicted. The economy passed the cycle from 1784 to 1844, during which the War of 1812 (1800 to 1816) and the Mexican American War (1835 to 1844) took place. This was repeated between 1845 and 1896, when the American Civil War (1859 to 1864) and the Spanish American War (1875 to 1896) also filled the summer and winter stagflation and depression.

This continued in the US until the 20th century. The period 1896 to 1949 included the economic effects of the First World War (1907 to 1920) and the economic effects of World War II (1929 to 1940). Between each summer and winter cycles there was a previous period of boom and reconstruction period. The latest documentation for the cycle since 2011 is the period 1949 to 2011, with the economic effects of the Vietnam War between 1966 and 1982 and the war against terror from 2000 to 2011 and further.

While the time range of each period of economic change is somewhat flexible and economic natureThe period itself seems that there is a cycle in historical records. The main argument of economists against the Kondratiev wave is not whether or not it exists, but about its main causes. Views range widely for the causes of economic fluctuations from the effects of war to the disturbing effects of innovation or soil speculation effects. Such widely different reasons for the Kondratiev wave are the reason why the economy is often provided by the designation is complicated science.