Kondratiev Wave

A long-term economic cycle lasting roughly 40 to 60 years, proposed by Soviet economist Nikolai Kondratiev in the 1920s. Each wave encompasses periods of rising growth and innovation followed by prolonged downturns and structural adjustment. While mainstream economists debate whether these supercycles are real or merely pattern-fitting, some macro traders and market historians use the framework to contextualize major technological revolutions, from railroads to the internet, and the financial crises that follow their mature phases.