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He believed that the ”duration of the long wave was 48-60 years”. Another economist, Kuznet, believed that as well as long waves , there were smaller cycles within this long period of time which were intermediaries between his extended long wave that lasted between 6 to 70 years. These periods in between were known as short term business cycles. Finally, it was obvious that the system of having short term business cycles was more accurate and efficient than other theories. They allowed for a more reliable prediction of future trends from previous data.
Theses cyclical movements were based upon the economic position of the population over certain time periods or until specific periodical characteristics repeat themselves, which would signify that a cycle had been completed...
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