Similar financial termsHorizontal merger wave (1895-1904)
The first merger wave began right after the 1883 depression in a period of rapid economic expansion. The combination movement consisted mainly of horizontal mergers, which resulted in high concentration in many industries, including heavy manufacturing industries. Accomplished with this merger wave was the completion of the transcontinental railroad system, the advent of electricity and a major increase in the use of coal. The completed rail system resulted in the development of a national econo ...
Named after Soviet economist Mikhail Kondratiev, the theory that Western capitalist economies are susceptible to high performance volatility. Sometimes called Kondratiev cycles, it refers to stock market cycles which last 50-60 years.