Chartered Market Technician (CMT) Practice Exam 2025 – Your All-in-One Guide to Exam Success!

The Kondratieff Wave, also known as the Kondratieff cycle, is a long-term economic cycle that is typically identified to last approximately 54 years. This concept was developed by Russian economist Nikolai Kondratieff in the 1920s and suggests that economies experience long waves of boom and bust based on technological innovation and capital investment.

In this framework, the 54-year duration reflects the phases of growth and contraction that economies go through, indicating a period of economic expansion followed by a period of recession. This timeframe accounts for technological advancements, social changes, and other macroeconomic factors that influence economic cycles over the decades. The reasoning behind the length can be attributed to the time it generally takes for new technologies to be developed, implemented, and become broadly impactful in the economy.

Other durations offered in the options do not align with the established scholarly consensus around the Kondratieff Wave, which is firmly centered around the 54-year cycle. This understanding is critical for analyzing long-term economic trends, making strategic investment decisions, and predicting future economic conditions.