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Canada (510,027)
Economics (1,590)
ECO100Y1 (438)
Jack Carr (32)
Lecture

Kondratieff Cycle

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Department
Economics
Course
ECO100Y1
Professor
Jack Carr
Semester
Fall

Description
Kondratieff Cycle - Russian Economist - 1922 J long wave cycle - Sent to Siberia J died in 1930 - Agriculture suffers a pronounced suppression - During the upswing, the most disastrous wars have occurred - Until the 1970s, long wave cycle was known as a price cycle, not an investment cycle - Downward turning point = change in investment - Multiplier = f(change in investment) - Gold discover increased the money supply greatly - Wars - Disequilibrium in agricultural cycles - LL}]}L)o] ]}L}L};~M 1. Basicradical innovation J railway etc. (main innovations J discontinuous J ZZKZ[ several innovations in a short period of time) 2. Improvement innovation J television (enhance use of something) a. All firms are i
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