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This Globalizing World
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Kondratieff Waves. Cycles, Crises, and Forecasts
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Though the researchers of the theory of long and medium-term cycles are certainly worried about the economic situation, they understand that the cyclicity still remains an inevitable attribute of economic development. And Juglar's aphorism that crisis is a consequence of the preceded prosperity is still true.
In this third issue of the Yearbook 'Kondratieff Waves' with the subtitle 'Cycles, Crises, and Forecasts', we present a number of insight contributions on nature, regularities, and interconnections among cycles of different duration. Some economic cycles may result in a severe economic crisis. The current one shows once again the importance of the study of cyclical dynamics and its peculiarities.
Between the 1980s and 1990s the Keynesian receipts were replaced by neoliberal and monetarist ones which seemed to be miraculous as well. The depleted growth was marked with the largest global crisis of 2008 which also showed that within globalization when regulation in the international arena is impossible yet, there recur the signs of Juglar cycles of the 19th and first half of the 20th centuries with their uncontrollable upwards and sharp declines evolving into collapses and panic. This is supported by the fact that for eight years the world has been at the depressive phase.
This edition will be useful for economists, social scientists, as well as for a wide range of those interested in the problems of the past, present, and future of global economy and globalization.