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Article
Publication date: 9 March 2015

Markku Wilenius

The aim of the project on which this paper is based is to clarify – using Kondratieff theory of long-term socio-economic cycles – how the next (sixth) wave will look like…

Abstract

Purpose

The aim of the project on which this paper is based is to clarify – using Kondratieff theory of long-term socio-economic cycles – how the next (sixth) wave will look like. The focus lies in the socio-political aspect of change.

Design/methodology/approach

The article is a short and partial summary of a major project called “The Sixth Wave”. Workshops and surveys have been run in Finland and in Silicon Valley, California.

Findings

The project coordinators have been testing the theory of Kondratieff waves with various methods and have found it to be a convincing way to identify the patterns of change. It really brings in anticipatory power to its users.

Research limitations/implications

There are lots of interesting implications of using K-Wave as a framework to understand next decades. More research regarding the future technologies in the K-Wave context should be undertaken.

Practical implications

The author believes that the K-Wave framework can be also regarded as anticipatory tool for business. The heavy emphasis in the author’s K-wave theory on resource productivity as a technology driver for the next wave makes it obvious that all technologies and businesses that aim at performing with greater output with less material or energy input are regarded as winners of their respective schemes in the emerging wave as the demand for these services will rise dramatically.

Social implications

The author hopes the article will help people understand how fundamental the change K-Wave engenders in terms of democracy and trust, and that the article will also provide a more comprehensive view towards the transformation we are experiencing. The author anticipates that the idea of corporate social responsibility will become much more compelling in the sixth wave framework.

Originality/value

The project coordinators have given a whole new interpretation to the Kondratieff theory. They approach the theory with social science framework rather than customary economic framework, and have also tested their model with the project’s industrial partners.

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Article
Publication date: 1 July 1981

Ghalib M. Baqir

The “re‐industrialisation” of America is the dominant topic today. It has come about because the United States economy did not live up to its expectations during the…

Abstract

The “re‐industrialisation” of America is the dominant topic today. It has come about because the United States economy did not live up to its expectations during the decade of the 1970s. As to what has caused such low economic performance, many speculations have been advanced, such as big government, high taxes, monetary maladjustments, the energy shortages, the high prices of energy, etc. However, one group of economists have attributed the dismal economic performance during the 1970s to the phenomenon of the “long‐wave cycles”. This cycle is also called the Kondratieff cycle, and occurs at intervals of forty to sixty years in a socio‐economic system resembling that of capitalism. According to the proponents of this theory since the last part of the eighteenth century, industrial capitalism has exhibited long waves of cyclical fluctuation in income, employment and prices. These economists believe that the “long‐wave cycles” are what have underlined recent United States economic ills.

Details

International Journal of Social Economics, vol. 8 no. 7
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 1 April 2014

Arvydas Jadevicius and Simon Huston

– The paper aims to discuss the major and auxiliary types of cycles found in the literature.

Abstract

Purpose

The paper aims to discuss the major and auxiliary types of cycles found in the literature.

Design/methodology/approach

The existence of cycles within economy and its sub-sectors has been studied for a number of years. In the wake of the recent cyclical downturn, interest in cycles has increased. To mitigate future risks, scholars and investors seek new insights for a better understanding of the cyclical phenomenon. The paper presents systematic review of the existing copious cyclical literature. It then discusses general characteristics and the key forces that produce these cycles.

Findings

The study finds four major and eight auxiliary cycles. It suggests that each cycle has its own distinct empirical periodicity and theoretical underpinnings. The longer the cycles are the greater controversy which surrounds them.

Practical implications

Cycles are monumental to a proper understanding of complex property market dynamics. Their existence implies that economies, whilst not deterministic, have a rhythm. Cyclical awareness can therefore advance property market participants.

Originality/value

The paper uncovers four major and eight auxiliary types of cycles and argues their importance.

Details

Journal of Property Investment & Finance, vol. 32 no. 3
Type: Research Article
ISSN: 1463-578X

Keywords

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Book part
Publication date: 21 November 2016

Indranarain Ramlall

Abstract

Details

Applied Technical Analysis for Advanced Learners and Practitioners
Type: Book
ISBN: 978-1-78635-633-8

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Book part
Publication date: 23 July 2016

Daniele Besomi

This chapter enquires into the contribution of two British writers, Herbert Somerton Foxwell and Henry Riverdale Grenfell, who elaborated upon the hints provided by Jevons…

Abstract

This chapter enquires into the contribution of two British writers, Herbert Somerton Foxwell and Henry Riverdale Grenfell, who elaborated upon the hints provided by Jevons towards a description of long waves in the oscillations of prices. Writing two decades after Jevons, they witnessed the era of high prices turning into the great depression of the last quarter of the nineteenth century, the causes of which they saw in the end of bimetallism. Not only did they take up Jevons’s specific explanation of the long fluctuations, but they also based their discussion upon graphical representation of data and incorporated in their treatment a specific trait (the superposition principle) of the ‘waves’ metaphor emphasized by the Manchester statisticians in the 1850s and 1860s. Their contribution is also interesting for their understanding of crises versus depressions at the time of the emergence of the interpretation of oscillations as a cycle, which they have only partially grasped – as distinct from the approach of later long wave theorists.

Details

Research in the History of Economic Thought and Methodology
Type: Book
ISBN: 978-1-78560-960-2

Keywords

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Article
Publication date: 1 May 2000

Paul M. Evans

Much has been written about how methods of working and communicating can improve the productivity of innovation for industry. Less has been related to this from the…

Abstract

Much has been written about how methods of working and communicating can improve the productivity of innovation for industry. Less has been related to this from the overall development of science and policies that assist this. The changing organisational context of industrial research brings the need for scientific publishers to reinvent themselves for this market segment. Scientific communication, including one of its key functions, awareness, is examined and it is concluded that functions and processes in scientific communication may be organised more efficiently to increase the productivity of industrial research. The new context of virtual communities, exploiting the opportunities for interactivity, provides the organisational basis for introducing new methods for inculcating new approaches to knowledge management, for innovation in industry to occur more effectively. An approach to better understanding knowledge synthesis and the potential role of the publisher, as communications facilitator, is discussed.

Details

Aslib Proceedings, vol. 52 no. 4
Type: Research Article
ISSN: 0001-253X

Keywords

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Book part
Publication date: 10 December 2018

Johan Gaddefors and Alistair Anderson

The objective of this longitudinal ethnography of a rural small town in Northern Sweden, following the presence and identifying the processes associated with an incoming…

Abstract

The objective of this longitudinal ethnography of a rural small town in Northern Sweden, following the presence and identifying the processes associated with an incoming entrepreneur, was to better understand entrepreneurship in a rural context. The significant shaping of entrepreneurship by context is increasingly recognised, with entrepreneurship in depleted communities being an important part of this research movement. This chapter is positioned at the conjunction of these literatures. The authors have studied this community for 10 years; regularly interviewing the entrepreneur and residents; attending meetings and making observations. The authors found that the entrepreneurial creation of garden provoked a raft of change, such that entrepreneurship reverberated throughout the town. To explain these effects, the authors developed the concept of entrepreneurial energy. Entrepreneurial energy is a vitality produced in and by entrepreneurship. It works, in part, as a role model, holding up examples of what can be done. But much more, the presence of entrepreneurial energy serves to invigorate others. It becomes amplified in new ways of doing, new ways of being, yet calcified in the entrepreneurial actions of others. The authors saw how it unleashed the latent, promoted the possible, to entrepreneurially revive the town.

Details

Creating Entrepreneurial Space: Talking Through Multi-Voices, Reflections on Emerging Debates
Type: Book
ISBN: 978-1-78756-372-8

Keywords

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Article
Publication date: 1 February 2000

Simon Forge

Are we now entering the era of a new type of economy, with new rules? What we perceive is more than just an addition to today’s economics. By removing the effects of…

Abstract

Are we now entering the era of a new type of economy, with new rules? What we perceive is more than just an addition to today’s economics. By removing the effects of distance, and giving more equal access across nations and classes, networks will effectively reengineer our basic economic equations. Electronic networks can provide access to skills, work and commerce at much lower cost, via electronic markets in jobs, products, services and education. At the same time, they introduce new economic behaviour, as a large enough quantitative change becomes a qualitative change. Electronics and optics enable the networking of human capital, expanding its application and accelerating its enrichment via education. So knowledge‐based operations may slowly replace traditional capital‐based assets. Consequently, the conventional process for the creation of wealth with its prerequisites for capital investment is revised:economic value in traditional fixed assets is replaced by “electronic assets”. At the same time, the network effect pushes the market mechanism to its limits, through a step‐change in breadth of access, reduced costs of entry and pace of trading. National differences and national markets, all the trappings and devices of commercial locality, are challenged. In this first of two articles, the initial conditions and the evidence for change are examined and the emergence of a new form of economy, or “tele‐economy”, is reviewed. Following from this, a view of the form of capitalism driving the economic environment – “electronic capitalism” – is put forward. The second article, to be published in a forthcoming issue of foresight, examines the consequences and conclusions on assets, wealth accumulation, national players and the benefits and dangers of a tele‐economy.

Details

Foresight, vol. 2 no. 1
Type: Research Article
ISSN: 1463-6689

Keywords

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Article
Publication date: 9 November 2012

Gilbert Ahamer

Education for equity in global development and cultural diversity calls for professional capacity building to perceive diverse perspectives on complex procedures of…

Abstract

Purpose

Education for equity in global development and cultural diversity calls for professional capacity building to perceive diverse perspectives on complex procedures of globalisation. The discipline of human geography is such a “provider of perspectives”. The purpose of this paper is to propose a historic series of how theories of geography and human development have emerged.

Design/methodology/approach

This paper contributes to education and training by proposing a historic series of how theories of geography and human development have emerged.

Findings

The outcomes of this analysis of geographic paradigms offer options for the management of multicultural education in development. A critical synopsis and a combination of various paradigms on global development seem most promising for a holistic and comprehensive understanding of globalisation.

Research limitations/implications

In particular, recent developments in human geography exhibit rapidly changing paradigms (ironically called “the Latin America of sciences”) and are hence difficult to systematise.

Practical implications

Spaces are understood to be communicational spaces, the substrate of which is enabling communication technologies. The theoretical contemplations of this paper permit to design learning environments, learning styles and related technologies.

Social implications

Perception and understanding of contradicting theories on global (economic and human) development facilitate education fostering multiple cultures of understanding. The author's own professional experience shows that only esteem for all paradigms can provide the full picture. Success means “collective production of meaning”.

Originality/value

Understanding history frees us to reach future consensus.

Details

Multicultural Education & Technology Journal, vol. 6 no. 4
Type: Research Article
ISSN: 1750-497X

Keywords

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Book part
Publication date: 8 November 2010

Alan Freeman

This chapter restores the concepts of freedom, consciousness, and choice to our understanding of “economic laws,” so we may discuss how to respond to economic crisis…

Abstract

This chapter restores the concepts of freedom, consciousness, and choice to our understanding of “economic laws,” so we may discuss how to respond to economic crisis. These are absent from orthodox economics that presents “globalization” or “the markets” as the outcome of unstoppable forces outside human control.

They were integral to the emancipatory political economy of Karl Marx but have been lost to Marxism, which appears as the inspiration for mechanical, fatalistic determinism. This confusion arises from Marxism's absorption of the idea, originating in French positivism, that social laws are automatic and inevitable.

The chapter contests the organizing principle of this view: that economic laws are predictive, telling us what must happen. Marx's laws are relational, not predictive, laying bare the connection between two apparently distinct forms of appearance of the same thing, such as labor and price. Such laws open the door to democracy and choice, but do not unambiguously predict the future because what happens depends on our actions.

The commodity form conceals these laws, disguising the true social and class relations of society. Accumulation, however, undermines the circumstances that permit the commodity to play this role. The result is crisis, defined in this chapter as the point when the blind laws of the commodity form are suspended and open political forces come into play.

In past crises, capitalism has restored the rate of profit through such destructive interventions as imperialism, war, and fascism. Economic laws, properly defined, offer society the real choice of alternative outcomes from crisis.

Details

The National Question and the Question of Crisis
Type: Book
ISBN: 978-0-85724-493-2

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