The Long Wave as an Endogenous Mechanism

Stanislav Menshikov

Chapter 9 in New Findings in Long-Wave Research, 1992, pp 233-256 from Palgrave Macmillan

Abstract: Abstract One of the main points in the current long-wave controversy is whether this wave has an internal economic mechanism or is mainly caused by external shocks and influences. Since the roots of this controversy go back to the 1920s, namely to the criticism by Leon Trotsky of Kondratieff’s long-cycle hypothesis, it is perhaps useful to start with a short description of how Kondratieff’s theory related to Marx’s earlier writings, and then present a more formal approach to the analysis of the endogenous economic mechanism underlying this phenomenon.

Keywords: Labour Productivity; Technological Progress; Technological Revolution; Fixed Capital; Capital Productivity (search for similar items in EconPapers)
Date: 1992
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DOI: 10.1007/978-1-349-22450-0_9

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