The Kondratiev wave, also known as the long wave or K-wave, is a theory in economics that suggests that economic growth and recession occur in cyclical patterns. The theory posits that these cycles last between 50-60 years, characterized by periods of expansion, peak, contraction, and trough. The theory is supported by a significant body of evidence and has been able to accurately predict past economic cycles, but also has its criticism, some argue that the theory is too simplistic and does not ...
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