Abstract
Among the long-term economic changes of Western industrialised nations one can readily discern between long periods of above average economic impetus with rapid growth and periods of little or no economic growth at all. In the attempt to explain this alternating behaviour a wide range of theories have evolved about the so-called ‘long waves’. Most theories reach back to the initial ideas of Kondratieff (1926) who actually only became well known through the further developments in the work of Schumpeter (1961). Because of an overall faint development of world commerce in the late 1970s and early 1980s the long-wave theories have experienced a rebirth.2 The majority of these theories describe four ‘Kondratieff waves’ since the onset of industrialisation, each wave having an approximate duration of fifty years. The fourth Kondratieff cycle started accordingly with the upward trend at the end of the Second World War. Today, we consider ourselves as being near the end of this cycle.
The following chapter summarises some results of a research project under the promotion of Professor Ota Sik and the Swiss National Research Foundation. For more detailed elaboration see Sik, Höltschi and Rockstroh (1988).
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsPreview
Unable to display preview. Download preview PDF.
References
Coombs, R. and A. Kleinknecht (1986) ‘New Evidence on the Shift Toward Process Innovations During the Long Wave Upswing’, in C. Freeman (ed.), Design, Innovation and Long Cycles in Economic Development (New York: St Martin’s) pp. 78–103.
Dosi, G. (1982) ‘Technological Paradigms and Technological Trajectories’, Research Policy, vol. 11, no. 3, p. 147–62.
Dosi, G. (1986) ‘Technology and Conditions of Macroeconomic Development’, in C. Freeman (ed.), Design, Innovation and Long Cycles in Economic Development, (New York: St Martin’s) pp. 60–77.
Freeman, C. (ed.) (1984) Long Waves in the World Economy (New York: St Martin’s).
Kondratieff, N.D. (1926) ‘Die langen Wellen der Konjunktur’, Archiv für Sozialwissenschaft und Sozialpolitik, vol. 56; reprint: Autorenkollektiv, Die langen Wellen der Konjunktur (Berlin: Olle & Weter, 1972) pp. 133–69.
Mensch, G. (1975) Das technologische Patt (Frankfurt: Umschau-Verlag).
Olson, M. (1982) The Rise and Decline of Nations (Yale University Press).
Perez, C. (1983) ‘Structural Change and Assimilation of New Technologies in the Economic and Social Systems’, Futures, vol. 15, no. 5, pp. 357–75.
Schumpeter, J.A. (1935) Theorie der wirtschaftlichen Entwicklung, 4th edn (München/Leipzig: Duncker & Humblot).
Schumpeter, J.A. (1961) Konjunkturzyklen, vol. I (Göttingen: Vandenhoeck & Ruprecht).
Sik, O., R. Höltschi and C. Rockstroh (1988) Wachstum und Krisen (Berlin: Springer).
Vasko, T. (ed.) (1987) The Long-Wave Debate (Berlin: Springer).
Editor information
Editors and Affiliations
Copyright information
© 1990 Kurt Dopfer and Karl-F. Raible
About this chapter
Cite this chapter
Höltschi, R., Rockstroh, C. (1990). Waves in Long-term Economic Development. In: Dopfer, K., Raible, KF. (eds) The Evolution of Economic Systems. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-11153-4_11
Download citation
DOI: https://doi.org/10.1007/978-1-349-11153-4_11
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-11155-8
Online ISBN: 978-1-349-11153-4
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)