A Brief Agenda for the Future of Long-Wave Research

Immanuel Wallerstein

Chapter 14 in New Findings in Long-Wave Research, 1992, pp 339-342 from Palgrave Macmillan

Abstract: Abstract The resistance to acknowledging the existence of ‘long waves’, is, when all is said and done, astonishing. All modern science presumes the normality of patterned fluctuations. No doubt there is more to reality than patterned fluctuations, but there seem to be no real phenomena that do not fluctuate in ways that can eventually be summarised empirically as patterns. Even hidebound opponents of longwave theory acknowledge the reality of short waves, the so-called ‘business cycle’. Why the capitalist economy has shortterm cycles but cannot have longterm ones is so mysterious that one can only consider such allegations as mystical or, more to the point, ideological. I suggest that we waste no more time proving that the Earth revolves around the Sun. Let those who assert the contrary play in their own garden.

Keywords: Business Cycle; Capitalist Economy; Cyclical Pattern; Real Phenomenon; Profit Rate (search for similar items in EconPapers)
Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-22450-0_14

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DOI: 10.1007/978-1-349-22450-0_14

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