Nikolai Kondratiev
Nikolai Kondratiev was a Soviet economist known for his theory of long economic waves, which posited that capitalist economies experience long-term cycles of boom and bust lasting approximately 50 years. His work was influential in understanding economic fluctuations and the role of technological innovation in economic growth, although it faced criticism and was largely overlooked during his lifetime, especially under Stalin's regime.
Born on Mar 04, 1892 (134 years old)
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Indonesia:
Nikolai Kondratiev proposed that the economy grows in long waves driven by major technological innovations.
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Russia:
Kondratiev's works will be discussed in the new economics textbook.
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