The Long Wave in the World Economy

Contributes not only to the theoretical literature on long waves, but also provides a coherent analysis of the present state of the world economy by bringing together labour, trade and industrial relations.

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Long waves are cycles of some fifty years duration in which a period of rapid expansion is followed by one of slow growth of stagnation. This book provides a critical examination of long wave theory and an original explanation of long fluctuations which is highly relevant to the current crisis in the world economy.