Kondratieff Wave Theory

A theory suggesting that capitalist economies will experience periods of growth and deep recession around a 50 year period.  The theory states that a period of high growth will be followed by a recession, a recovery where the economy will plateau, and then an economic crisis will cause  another more severe depression and then start the cycle again.  This cycle of constant renewal and destruction is also known as “supercycles”, “Kondratiev waves”, “K-waves”, “surges”, or “long waves”.