Phases of Economic Growth 1850 1973

Using data from Britain France Germany the United States and the world economy between 1850 and 1973 this book presents a clear and systematic examination of the evidence for long-term patterns of economic growth. The author refutes the existence of long (Kondratieff) waves in the course of economic development and instead presents persuasive evidence for a growth pattern characterized by episodic long swing fluctuations of twenty to thirty years documenting and explaining these phases in a historical perspective.