Kondratieff Waves

A long-term cycle in the economic cycle, the Kondratieff Wave is believed to result in technical innovation that produces a long period of prosperity alternating with economic decline. A strategy proposed by Russian economist Nikolai Kondratieff, it is a concept that economists estimate to last for 40 to 60 years. Also known as “Kondratieff Wave," "supercycle," "K-Wave," "surge" or "long wave", Kondratiev’s theory is not generally accepted by economists and can easily be explained as a statistical illusion created by his transformations of the raw data.