Long Waves and Creative Capitalism

Technological theorist and historian Carlota Perez has provided an analysis of the current global economic crisis that locates it within 50 year "long wave" theory and provides an analysis of the condition for a sustainable global boom for the 21st century. This is available here and well worth a read.

Long wave theories were first developed by the Russian economist Nikolai Kondratiev, who was executed by Stalin for his troubles. They were subsequently developed by the Austrian economist Joseph Schumpeter as well as the Marxist Ernest Mandel. Carlota Perez and Chrstopher Freeman have been pioneers in linking this work to technological developments, around the concept of techno-economic paradigms.