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KILOBAR

Widely used bar containing 1 kilogram of fine gold.

KONDRATIEFF WAVE

Theory of the Soviet economist Nikolai Kondratieff in the late 1920s that the economies of the Western capitalist world were prone to major up-and-down “supercycles” lasting 50 to 60 years. He claimed to have predicted the economic crash of 1929-30 based on the crash of 1870, 60 years earlier. The Kondratieff wave theory has adherents, but is controversial among economists. Also Kondratieff Cycle.