UDC 338.45
Authors
Arkhipova U. A.,
Bachelor’s degree student of the faculty of global studies,
Lomonosov Moscow state University, Moscow, Russia
Abstract
It is common knowledge that the cyclical nature of economic development is one of the most widely discussed issues in the scientific circles. The importance of studying this question is hard to overestimate as the discovery of economic cycles enables people not only to provide the assessment of the previous epochs, but also to forecast the future fluctuations in the economic environment, which is sure to be helpful when adjusting the global programs of socio-economic development. This area of research is of particular interest to the scientific community as this approach makes it possible for the world’s governments to select the optimal development strategies in order to establish balance in times of crisis. The present article sets out the history of creating the very concept of the Kondratieff long wave theory, one of the most famous works in this field, its principal points and limitations.
Keywords
cyclical nature of economics, cyclical dynamics, cyclical developments, economic environment, economic situation, stages and phases in the economic cycle, economic fluctuations, Kondratieff waves, forecasting.
