Kondratiev Waves

Kondratiev Waves are long-term economic growth cycles lasting approximately 40 to 60 years, identified by economist Nikolai Kondratiev. These waves consist of periods of expansion, where innovation and investment drive prosperity, followed by downturns or stagnation. The cycles are influenced by technological advancements, investment patterns, and societal changes. For example, breakthroughs like railroads or the internet can trigger a new phase of growth. Recognizing these waves helps understand long-term economic trends, much like seasonal patterns help predict weather changes.