A "Long Wave" refers to a significant and prolonged fluctuation in economic activity, typically lasting 50 to 60 years. These cycles are characterized by periods of expansion and contraction, influencing various sectors such as industry, technology, and employment. The concept is often associated with the work of economist Nikolai Kondratiev, who proposed that these waves are driven by technological innovations and shifts in consumer behavior. Long Waves can be divided into four phases: expansion, crisis, recession, and recovery. During the expansion phase, economic growth accelerates, leading to increased investment and innovation. In contrast, the crisis phase marks a downturn, where economic activity slows, often resulting in unemployment and reduced consumer spending. Understanding these cycles can help policymakers and businesses make informed decisions.