The Kondratieff Wave: Tracking The Past Or Predicting The Future?
In 1926, Nikolai Kondratieff (also spelled Kondratiev or Kondratyev) published a study called Long Waves in Economic Life for the Agricultural Academy and Business Research Institute in Russia. Kondratieff noted that capitalist economies have long waves of boom and bust, that he described similar to the seasons in a year. However, for presenting his work to Stalin showing that capitalism will always return, he was imprisoned and then eventually executed. …