Kondratieff cycles

http://www.iwallerstein.com/wp-content/uploads/docs/TRAJWS1.PDF (Links to an external site.) and read Immanuel Wallerstein’s article Globalization or Age of Transition? A Long-term View of the trajectory of the World System.
What are Kondratieff cycles and how does the late 20th century and early 21st century economic system fit into the theory?
How was the post-WWII global economic system designed to benefit the U.S. economy?
What happened to upset this favorable arrangement?
What does Wallerstein identify as the major secular trends influencing the global economy by the 1990s?
How close was Wallerstein in his projections for the future, now that we are getting there?

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