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Published on Jul 14, 2009
In the 1920s Nikolai Kondratieff reported a cycle in prices that averaged 54 years. There are depressions and booms in this cycle which is also connected to wars and the birth rate. Ray Tomes proposes an explanation for the cause of this cycle also sometimes called the K-wave or long wave cycle.
The darn phone rang before I finished ... such is life. This is a reload as somehow the sound went bad on the original.