Nikolai Kondratiev

Nikolai Kondratiev

Nikolai Dmitriyevich Kondratiev (in some sources also referred as Kondratieff, Russian: Никола́й Дми́триевич Кондра́тьев; 4 March 1892 – 17 September 1938) was a Russian economist, who was a proponent of the New Economic Policy (NEP), which promoted small private, free market enterprises in the Soviet Union. He is best known for proposing the theory that Western capitalist economies have long term (50 to 60 years) cycles of boom followed by depression. These business cycles are now called "Kondratiev waves".