Nyikolaj Kondratyjev

Nyikolaj Kondratyjev was a Soviet economist known for his theory of long waves in economic development, which postulated that economies undergo cycles of growth and recession lasting approximately 45 to 60 years. His work was critical in understanding the dynamics of capitalist economies and he faced severe repercussions for his ideas, including imprisonment and execution during Stalin's purges. His theories were largely ignored in the Soviet Union for decades but were rehabilitated posthumously, highlighting his significant contributions to economic thought.