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Introductory Technical Fundamental Economics Opinion Sectors International Regulatory Other Markets

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Definition

First proposed by Russian economist Nikolai Kondratiev in his 1926 book, a very long cycle of around 54 years in commodity prices was identified. This was subsequently re-iterated by R. N. Elliott in his Elliott Wave theory and by other cycle theorists. The essential idea is that the economically active lifespan of a person is around 54 years - from his early twenties until his late seventies and that this has an impact on average debt levels, economic activity and the stock market.

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