The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Long Cycles

  • John Cornwall
Reference work entry


For over a century many economists have maintained that the historical development of capitalist economies can be usefully described in terms of regular, re-occurring cyclical movements in overall economic activity. Depending upon the investigator, these regularities have been revealed allegedly in re-occurring 3–5 year inventory or Kitchin cycles, 7–11 year investment or Juglar cycles, 15–25 year building or Kuznets cycles and 45–60 year long-wave or Kondratieff cycles.

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Authors and Affiliations

  • John Cornwall
    • 1
  1. 1.