Long waves are cycles of some fifty years duration in which a period of rapid expansion is followed by one of slow growth of stagnation. This book provides a critical examination of long wave theory and an original explanation of long fluctuations which is highly relevant to the current crisis in the world economy.
`... coherent, consistent and forceful. ... a very good book that places the economic difficulties of the 1970s and 1980s in historical and global perspective. It is well worth reading.' - Political Studies 1993
`... easily the best book on economics I have read in a long, long time.' - Resurgence No. 157 March/April 93
`... excellent attempt to picture the grand sweep of trends in the industrial economy ...' - Land and Liberty
`..his thought-provoking long-wave look at our present problems gives a perspective that exists nowhere in the sterile Treasury models that rule our economy. It should be compulsory reading for every MP and economic mandarin.' - Tony Levene, Scotland on Sunday
`... easily the best book on economics I have read in a long, long time.' - Larry Elliott, Resurgence