Undone edits by user Ibn khaldun 84 The following was moved do discussion because it was not in encyclopedic style and had few citations Also citations were not in proper format Other modern Modifications of Kondratieff theory The contest of Political Long Cycles vs Economic Long Cycles The theory of long cycles tend to generate much debate during periods of so called recessions while during the long periods of growth decreases instead the intensity of the debate Since the 1970s and above 1980s the discussions increased quite hugely when they were relatively faded between 1945 and 1970 It is questionable whether the period since 1967 Meadows Report or 1971 end of gold convertibility of the dollar or 1973 oil shocks is a long recession The US economy has experienced strong productivity gains and a period of economic growth in length as yet unknown from the years 1980s As for Asia this continent started to take off ever since But Europe has actually experienced the problems of mass unemployment and slower growth since the 1970s Yet the theory of long cycles then experienced an upturn but in all over directions than before These long cycles would be not economic but also political It is not only cycles of political views but cycles involving the world via their geopolitical dimension And Modelski 1983 and Goldstein 1988 are interpreting and completing the Kondratiev results In parallel with Kondratiev economic long waves exist in parallel hegemonic cycles Hegemonic cycle lasts two successive Kondratiev cycles 120 years by Modelski or between two and three cycles 150 years by Goldstein Neo Schumpeterian Approaches vs World System Approaches In fact in Europe itself the theory of hegemonic long cycles initiated notably by Modelski and Goldstein has long had less success in starting a debate in Universities than the theories about economic long cycles lasting approximately 50 years The real debate has often opposed rather since the 1970s and especially 1980s neo Schumpeterian on one hand with advocates of the theory of the World System on the other hand It is true though that the World System Approach accepts more the idea of a possible existence of political long cycles Among the neo Schumpeterian Kleinknecht conducted audits of the econometric theory of Kondratiev country by country and concludes we can consider this theory as widely tested empirically On the other hand proponents of the theory of the World System note that this theory does not oppose only developed countries on one hand developing countries on the other side It is also showed in developed countries themselves the presence of growing inequalities in income and endowment factors between neighboring regions through the establishment of systems for the construction of suitable qualifications the long cycle and the global system naturally spread inequalities locally according to the international division of labor Gerhard Mensch s works can be proved to be in part as a link between these theories On the one hand he argues for a neo Schumpeterian explanation of the long cycles of innovation On the other hand since it explains that innovations through credit systems adapted to recognize the global evolution may exist in periods of expansion like in recession periods it justifies the fact that innovations can be supported by the public sector for example in a recession and to increase the average skill level Methodological Enquiries Assume that the findings made in the early days of the theory of economic long cycles early twentieth century and even a little before show points of support to build statistical systems that are conceived in order to verify the theory What are these points of support On the one hand the various economic sectors vehicle some productivity differentials Thanks to the knowledge of these differentials we could understand how the credit spreads from a sector of the economy to another to feed growth But if we reason not taking into account the sectoral point of view but rather from a national perspective we will not have that subtelty It is this subtelty that allows the construction of econometric systems to resolve the question If we can understand the phenomenon of growth only nationally is one possibility there economy and law are used to walk closely together But it must go global to move towards the solution in terms of the method how to conceptually integrate the global innovation Should it be to hope to achieve and solve again a question of method Indeed early theories of long cycles rather studied the issue of price changes for each country and also in some respects suggested modest ways to incorporate the issue of quantity or income Now if we come to the world