In the third chapter, a series of possible future economic scenarios presents a broad vision of the BRIMCs' nations in the 21st century, using hegemonic cycles and
Kondratieff cycles theories.
In his Economic Cycles, Schumpeter thoroughly analyzes some
Kondratieff cycles he detected (incidentally showing his vast knowledge of economic history):
One is the so-called
Kondratieff cycles that historically were 50--60 years in length.
Couching the economic evolution of the country within
Kondratieff cycles, McGillivray revisits Innis's staples theory, the subsequent era of economic protectionism and finally Canada's full economic integration into NAFTA.
Schumpeter's third approximation introduces multiple cycles, specifically the schema of Kitchin cycles (3-5 years), Juglar cycles (7-11 years) and
Kondratieff cycles (56 years).
But for readers looking for such elucidation, it appears that Wallerstein assumes prior knowledge of such key concepts as
Kondratieff cycles (p.
He believes that these forces produced two waves of mergers that follow
Kondratieff cycles (long waves of economic development).