Kondratiev wave
Meaning
Noun
- A hypothesized cycle-like phenomenon in the modern world economy, said to range from 40 to 60 years and to consist of alternating intervals of high sectoral growth and relatively slow growth.
Related
Similar words
Origin
- Named after the Soviet economist Nikolai Kondratiev, who was the first to bring the idea to international attention in his book The Major Economic Cycles (1925).
Modern English dictionary
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