In Moscow opened a memorial plaque to the economist Nikolai Kondratiev. Photo Photo

In the center of Moscow, a memorial plaque was opened to the outstanding Russian economist Nikolai Kondratiev, the founder of the theory of large economic cycles. It was established at the initiative of the Economic Policy Complex of the city on the eve of the Economist’s Day. The ceremony was attended by the Deputy Mayor of Moscow, head of the Department of economic policy and development of the city Maria Bagreeva, RBC correspondent reports.

Bagreyeva noted that Kondratiev made a significant contribution to world economic science. He is known for the theory of long waves of economic conjuncture, which later became known as “Kondratieff waves”. His research is used to analyze technological patterns, innovation cycles and global economic change.

Kondratiev took an active part in the development of the economy of post-revolutionary Russia. He was one of the founders and the first director of the Conjunctural Institute under the People's Commissariat of Finance of the USSR, worked in the People's Commissariat of Agriculture and the State Planning Committee of the USSR, participated in the development of agricultural development plans.

The world famous scientist brought the work “Great cycles of conjuncture”, published in 1925. In 1933 he became the only representative of Russia elected to the Econometric Society. The memorial plaque was placed on the facade of the house No. 6 on Tverskaya Street. In the 1920s, there was a house where an economist worked.

Nikolai Kondratiev (1892–1938) was a Russian and Soviet economist, the author of the theory of large cycles of economic conjuncture, known as “Kondratiev waves”. He linked the long-term development of the economy with the alternation of periods of rise and decline lasting about 40-60 years. He was one of the founders and the first director of the Conjunctural Institute, engaged in the planning and development of agriculture.

The idea of creating a memorial plaque belongs to the director of the Center for Tax Policy, the head of the laboratory of the Faculty of Economics of Moscow State University Kirill Nikitin. The author of the project was sculptor, academician of the Russian Academy of Arts Aydin Zeynalov.