Waves of economical development and their connections with innovation growth

Abstract

Innovation is the topic of discussion and debate for hundreds of years. In the 19th century economists and historians note that the acceleration of economic growth is the result of technological progress. The first observations on it suggest that economic development is manifested in the form of waves of activity. Karl Marx offerеd innovation to be linked to economic growth. The article discusses the wave theory of innovation proposed by Schumpeter, Kondratieff, Abernat.

Keywords

• innovation
• innovative growth
• economical waves