kondratiev wave
Word Rarity
Very rare
Frequency: Zipf frequency 1.03 in modern English
28
Scrabble Score
14
Letters
2
Syllables
11
Unique Chars
Meaning
noun
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.
Example Sentences
- "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; […]"
Etymology
Named after Soviet economist Nikolai Kondratiev (1892–1938), who was the first to bring the idea to international attention in his book The Major Economic Cycles (1925).