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Kondratiev Waves

A pattern of economic cycling of growth, stagnation and contraction in a market economy over a long time period driven by changes in capital formation, demographics, price cycles and technology and innovation. The "theory" is poorly defined and the length of a cycle is posited between 50 and 100 years. Some see the cycle as linked to human population dynamics and that a cycle occurs over a three generation period. This would mean a wave length of approximately 84 years given increasing human longevity. Others see the cycle as of boom and bust that is a societal, psychological/social pattern of greed and excess under market capitalism. Supposedly the most recent stock market price collapse in the United States began "Black Thursday", October 24, 1929 and led to 10 years of economic contraction that defined and culminated the low point of a K-wave.

from http://en.wikipedia.org/wiki/Kondratiev_wave




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