Kondratiev argued that in addition to boom-and-bust cycles of capitalism every ten years there were longer wave cycles that would last about 50 years. But his fifty year cycles seemed to go on forever, implying that capitalism might be like a perpetual-motion machine. This article compares Kondratiev’s cycles to Trotsky’s and others’ rebuttals. This is a very long piece but the subtitles allow you to pick and choose what you read.
Read in In Defence of Marxism
