Long Cycle Theory

Long Cycle Theory suggests that economic and political systems operate in extended periods, typically lasting around 50 to 75 years, characterized by patterns of boom and bust. These cycles are driven by deep structural forces like technological innovations, demographic shifts, and institutional changes. During a long expansion, prosperity builds until it reaches a peak, followed by a downturn or crisis that eventually leads to reform and renewal. The cycle then begins anew. This framework helps explain recurring economic trends and political upheavals over history, emphasizing that these patterns are driven by fundamental societal transformations rather than short-term factors alone.