Long Wave

The term "Long Wave" can refer to different concepts depending on the context: 1. **Economics**: In economic cycles, "Long Wave" often refers to the Kondratiev cycle, which is a theory proposed by the Russian economist Nikolai Kondratiev. This theory suggests that capitalist economies experience long-term cycles of approximately 50 to 60 years, characterized by periods of economic growth (booms) followed by periods of stagnation or decline (busts).