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| Innovation - road towards the Kondratiev spring |
There's a little irony in noting
that what some claim to be one of the most penetrating insight into the
workings of capitalism came from a 1920s Soviet economist. Nikolai Kondratiev,
one of the proponents of the Lenin's New Economic Policy, believed that
economies based on capital accumulation have an inner clock which drives cycles
of growth. Not short term buisness cycles based on corporate inventories or investments,
but a 50-60 year innovation driven long-wave which can shape human history no
less.

