Kondratieff cycle

Kondratieff cycle is a theory developed by a Russian economist Nikolai Kondratieff which states that industrialized countries such as the United States, Japan and most countries in Europe are under a 48 to 60 year business cycle. By analyzing historical interest rates, wages and trade, Kondratieff noted that there is an economic upturn which lasts for 25 years followed by a 25 year downturn, each cycle has a level phase where there is slow or no economic growth that lasts from 10 up to 15 years.

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