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The Kondratieff Waves describes the great cycles of economic development. It is based on a theory by Nikolai Kondratieff: the industrialized countries follow long-term cycles with a length of about 50 years. The term was coined by economist Joseph Schumpeter.

Groundbreaking inventions are the Triggers. The Kondratieff cycles can be attributed to following basic innovations:

• 1st Kondratieff cycle: 1780-1800 to 1830-1850: steam engine, textile industry
• 2nd Kondratieff cycle: 1830-1850 to 1880-1900: steel, railways
• 3rd Kondratieff cycle: 1880-1900 to 1930-1940: electrical engineering, chemistry
• 4th Kondratieff cycle: 1930-1940 to 1950-1980: automotive, petrochemical
• 5th Kondratieff cycle: 1950-1980 to 2005-2010: Information Technology

Kondratieff waves is best featured article in November 2011.

• Wayne Whaley received in 2010 the Charles Dow Award for his work lanes Trains and Automobiles - A Study of Various Market Thrust Measures.
• Charles Dow: American journalist and co-founder of Dow Jones & Company (1851-1902).
• Samuel A. Nelson was the first who called the Dow Theory in 1903.
• Munehisa Honma was an important Japanese rice trader, who lived from 1724 to 1803 and gained great popularity and credibility to the candlestickcharts.
• Robert Rhea is considered as one of the five founders of the Dow theory.
• Gerald Appel published his self-developed, Moving Averade Convergence / Divergence (MACD) indicator, briefly: MACD.

Recent changes at this WIKI - The following articles have been newly created or expanded:

Asset Class · Dow Theory · MTA · Technical Analysis · Trend · Momentum

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