Long Wave in Economic Life
Of all fluctuations in economic activity, the long wave or Kondratieff cycle is easily the most puzzling and least understood one. Does it really exist, and if so, is it only a cycle in prices or a cycle in economic activity at large? What causes it, and has it been confined to Europe or does it affect the world economy as a whole?
These questions, which seemed of little relevance in the prosperous...
Of all fluctuations in economic activity, the long wave or Kondratieff cycle is easily the most puzzling and least understood one. Does it really exist, and if so, is it only a cycle in prices or a cycle in economic activity at large? What causes it, and has it been confined to Europe or does it affect the world economy as a whole?
These questions, which seemed of little relevance in the prosperous...
