Meaning of Kondratiev wave | Babel Free

Definitions

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.

Examples

“Each such wave, known as Kondratiev Wave, has all the four characteristics of a business cycle. It rises on the back of new technologies and new forms of enterprise; the expansion leads to a peak, then topples over into a crash and reaches the trough. […] The first Kondratiev wave of the Industrial revolution rode on the technologies of the cotton and wrought-iron industries; […]”

CEFR level