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The Great Depression Is Coming

Author

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  • Georgi Naidenov

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

The article examines the grounds for the thesis expressed 10 years ago that the 2008- 2012 crisis is not identical to the Great De­pression and that a crisis similar to the Great Depression is yet to come. Vladimir Pantin’s theory of the four stages of the evolution of the world market is presented. It is stated that a great depression can be expected at the bottom of the transition from the first to the second Kondratiev wave in the current cycle of the evolution of the world market. Based on a study of the shortening of Kondratiev waves conducted a few years ago, it is argued that we can expect the Great Depression nowadays.

Suggested Citation

  • Georgi Naidenov, 2020. "The Great Depression Is Coming," Ikonomiceski i Sotsialni Alternativi, University of National and World Economy, Sofia, Bulgaria, issue 3, pages 98-107, September.
    • Handle: RePEc:nwe:iisabg:y:2020:i:3:p:98-107
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    More about this item

    Keywords

    great depression;

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles

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