Abstract

"Contemporary Kondratieff wave (K-wave) studies show two tendencies: one, a macroeconomic analysis that maps long trends of prosperity and depression with GDP data, but second, a sectoral approach that traces the influence of K-waves of basic innovations, and the rise of a succession of leading industrial and/or commercial sectors on the emergence of a global economy. What is more, K-waves are a not stand-alone feature of the modern world system but one in a cascade of processes that have shaped its emergence. They stand in a close relationship with world politics, democratization, and globalization. An evolutionary explanation of K-waves is one that gives a reasoned account of the emergence of the modern global economy over the past millennium, and one that may project equally far into the future."

Kondratieff Waves, Evolution and Globalization

Abstract

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