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.
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Andrew Tylecote is Professor in the Department of Economics at the University of Sheffield.
"Andrew Tylecote's ambitious study furnishes us with a fascinating panorama of the development of the world economy over more than two centuries. He brings together the main theories of the capitalist long wave together with important qualifications and developments of his own. And while historical evidence and argument is richly deployed the book presents a novel interpretation of the contemporary woes of the world economy. Andrew Tylecote's bold synthesis is sure to become an important reference point in the debates of the 90s on the unequal and anarchic world in which we live."
-Robin Blackburn, Editor of "The New Left Review
"It is an intellectual tour de force . . . this is the most substantial synthesis of long wave theory to be published since the revival of theory in the whole topic."
-Christopher Freeman, University of Sussex
"[Tylecote's] 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."
-"Scotland on Sunday
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