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Introduction

  • Michael Vogelsang
Chapter
Part of the Contributions to Economics book series (CE)

Abstract

Long economic waves, also called Kondratiev waves, are related to inventions and technologies, which change not only production processes but also the way of living. After the steam, steel, electricity, and petrochemical revolutions, network-based digitalization is the driving force today on the stage of business and private life. The Internet as a mass phenomenon, which began in the 1990s, allows easy and cheap connection of information technology systems. The next steps of technological progress as well as innovations in business and social life rely on information technology. As Nefiodow (2001) puts it: The 6. Kondratiev wave, which could be health and bioengineering, will be based on today’s 5. Kondratiev wave, which is information technology.

Keywords

Trade Policy General Equilibrium Model Macroeconomic Variable Intellectual Property Right Policy Approach 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Copyright information

© Physica-Verlag Heidelberg 2010

Authors and Affiliations

  1. 1.European Institute for International Economic Relations (EIIW)University of WuppertalWuppertalGermany

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