Automation has a habit of killing jobs, which has been true since the Industrial Revolution. However, it seems that we're discovering this truth all over again. We easily forget when we focus only on the job-creation aspects of automation, and that usually gets us in trouble. Since the IR, there have been five distinct economic waves lasting between 50 and 60 years. Named after the late Russian economist Nicolai Kondratiev, those waves now are known as "K-waves," or the "Kondratiev Cycle."