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Technological Development as a Cyclic Foundation for Achieving Sustainable Development Goals: Towards a Synthesis of Virtual Economics

Author

Listed:
  • Andrew Zimbroff

    (College of Education and Human Sciences, University of Nebraska-Lincoln, Lincoln, USA)

Abstract

The contemporary stage of technological development is characterised by a transition from the digital economy to a cognitive–virtual phase, in which technology serves as a key instrument for achieving the Sustainable Development Goals (SDGs). In a broad context, this paper conceptualises technological development as a cyclical process that reflects the regularities of successive technological paradigms, economic waves, and industrial revolutions. Particular attention is given to the integration of approaches from economics, management, mathematics, information technology, and the social sciences to enable a systemic analysis of sustainable development phenomena. The literature review demonstrates that, despite extensive research on technological paradigms and digital transformation, the interrelation between technological cycles and SDGs across micro-, meso-, macro-, and mega-levels remains insufficiently examined. Moreover, a coherent conceptual model explaining how the wave structure of technological progress contributes to the resilience of economic and social systems has not yet been fully developed. The objective of this study is to establish a conceptual framework that unites the theory of economic cycles, the evolution of technological paradigms, and the sustainable development agenda within the paradigm of Virtual Economics. Methodologically, the study adopts an interdisciplinary approach combining elements of mathematical modelling, systems analysis, and comparative–historical methods. The findings suggest that technological cycles not only reflect the internal dynamics of innovation but also shape the conditions for achieving SDGs through digitalisation, cognitive technologies, and the development of virtual ecosystems. The study concludes that Virtual Economics represents a new integrative platform combining economic, technological, and socio-cultural dimensions of sustainable development. Future research perspectives involve examining the role of the metaverse as a cognitive-economic domain of the seventh technological paradigm and developing mathematical models to forecast its impact on global processes.

Suggested Citation

  • Andrew Zimbroff, 2025. "Technological Development as a Cyclic Foundation for Achieving Sustainable Development Goals: Towards a Synthesis of Virtual Economics," Virtual Economics, The London Academy of Science and Business, vol. 8(2), pages 7-32, July.
    • Handle: RePEc:aid:journl:v:8:y:2025:i:2:p:7-32
    DOI: 10.34021/ve.2025.08.02(1)
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    References listed on IDEAS

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    1. Freeman, Chris & Louca, Francisco, 2002. "As Time Goes By: From the Industrial Revolutions to the Information Revolution," OUP Catalogue, Oxford University Press, number 9780199251056.
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