Cyclical theories

Cyclical theories suggest that economic activity and societal trends follow repeating patterns over time, much like the seasons or waves. These cycles can span years or even decades, with periods of growth, prosperity, and expansion followed by downturns, recessions, or crises. Theories such as those proposed by economist Nikolai Kondratiev identify long-term cycles, while others focus on shorter patterns. Essentially, cyclical theories view history and economies as recurring rhythms, helping us understand and anticipate future trends based on past behavior.