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Long Waves in Economic Life: an Image Without a Method

Author

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  • Tom Kitwood

    (School of Science and Society, University of Bradford, England)

Abstract

The potential of long wave theory is examined, as a possible basis for theoretising the history of industrial capitalist development. A brief review of the various forms of the long-wave account is given; recent versions are dealt with in 3categories—Neo-Schumpeterian, Marxist and Financial. It is concluded that no long-wave scheme meets the minimal requirements of a genuine theory. The most successful attempts are those which develop the idea of a ‘social structure of accumulation’. A theory of capitalist development must be one of social action, in the context of the relative persistence of certain structural features. But such a theory would not require the image of the wave.

Suggested Citation

  • Tom Kitwood, 1986. "Long Waves in Economic Life: an Image Without a Method," Journal of Interdisciplinary Economics, , vol. 1(2), pages 107-125, January.
  • Handle: RePEc:sae:jinter:v:1:y:1986:i:2:p:107-125
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    Cited by:

    1. Gregory G. Brunk, 2003. "Swarming of innovations, fractal patterns, and the historical time series of US patents," Scientometrics, Springer;Akadémiai Kiadó, vol. 56(1), pages 61-80, January.

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