Kondratiev Wave

In the world of economics, a “Kondratiev Wave” (sometimes called a “K-Wave”) is a type of supercycle that, according to its proponents, tracks and predicts growth across the global economy.

There are many types of proposed supercycle, most of them related to the economy in some way, though others suggest recurring patterns in the evolution and deployment of technology, the cultural focuses and mores of generations, or the ebb and flow of military conflict.

The Kondratiev Wave focuses on purported 45–60 year cycles that see periods of high growth, followed by a slump, which then leads into the next high-growth portion of the cycle.

There are actually three phases that cause that regular wave-like up and down motion, though: expansion, stagnation, and recession. Though modern versions of the theory also include a moment of collapse (or turning point) between the expansion and stagnation periods.