Abstract:
Since the problem of the world economical crisis is gaming importance nowadays, it becomes necessary
to reveal its real nature and reasons, in order to act in the most adequate way. The cycle theory is a
possible explanation for the current situation in the economy.We have carried out our own investigation, during which the economies of USA, United Kingdom and France in 1961-2007 were compared. The real GDP and unemployment dynamics were taken into consideration. We also paid attention to historical events of the period and Kondratiev’s empiric truths, in order to explain both the most powerful crises and the modern one.
Description:
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