Kondratiev Waves
Discussion
From the Wikipedia:
"In pseudoeconomics, Kondratiev waves (also called supercycles, great surges, long waves, K-waves or the long economic cycle) are hypothesized cycle-like phenomena in the modern world economy.[10] It is stated that the period of a wave ranges from forty to sixty years, the cycles consist of alternating intervals of high sectoral growth and intervals of relatively slow growth.
Such theories are dismissed by most economists on the basis of econometric analysis which has found that recessions are essentially random events, and the probability of a recession does not show any kind of pattern across time.[ Despite frequent use of the term business cycles to refer to changes in an economy around its trend line, the phrase is considered a misnomer. It is widely agreed that fluctuations in economic activity do not exhibit any kind of predictable repetition over time, and the appearance of cycles is a result of pareidolia."