Crypto Asset Investing in the Age of Autonomy by Jake Ryan

Author:Jake Ryan [Ryan, Jake]
Language: eng
Format: epub
ISBN: 9781119705376
Publisher: Wiley
Published: 2020-12-22T00:00:00+00:00

Long-wave Economic Cycles –  100 Years of Economic Theory

Blockchain didn't drop out of the sky. The technology cycle was moving in this direction since the 1970s. Nikolai Kondratiev in the 1920s and later Joseph Schumpeter in the 1930s were among highly influential economists theorizing long-wave economic cycle theory during the twentieth century.5 Kondratiev described the long-wave cycles and conceptualized the boom-and-bust phases of the cycles.6 Schumpeter continued the work with his ideas around innovation-based economics and the term “creative destruction,” which he coined. He named the long-wave cycle after his predecessor, Kondratiev (see Figure 9.2).

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