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Definition of 'Kondratiev Wave'
An economic theory created by Soviet economist Nikolai Kondratiev that states that Western capitalist economies are susceptible to high performance volatility.
Also known as "Kondratiev cycle".
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Investopedia explains 'Kondratiev Wave'
Kondratiev called these large performance fluctuations "super-cycles," which last 50-60 years. Kondratiev claimed to have predicted in the 1920s the stock market crash of 1929, also known as Black Thursday. His prediction was based on the market crash of 1870.
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