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Technology Long Waves

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   The  Kondratiev Wave  is an important element of  World-Systems Theory . The graphic above is taken from  Andreas Goldschmidt  and gives historical specifics for technological cycles. Goldschmidt's formulation allows for the idea to be tested (one of the models I always test), is partially consistent with economic Growth theory (particularly if we do not assume a functional form for exogenous disembodied technological change in the  Solow-Swan Model ) and I can present some examples. The Iranian Economy prior to 1979  and associated  Tech Bubble .

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  The Long Seventeenth Century (1640-1815) is the period that includes the French Revolution  (1789) and the aftermath. In another blog ( here ), I cover the Long Sixteenth Century (1450-1640) that covers the age of Henry VIII , Thomas Cromwell  and the English Reformation . And, the period from the  French Revolution    to World War I (the Long Nineteenth Century) I cover in yet another blog. What is unique about these blogs, I believe, is that I use state space statistical models to describe societal development during each period--and on into the 20th Century. For more information about the models, see the Boiler Plate here . To run the models, submit the code here . Links French Revolution   Marie Antoinette Affair of the Diamond Necklace The Empress (TV Series) The 17th Century The Long 18th Century Marx and the French Revolution Notes World-system theory  (WST) has developed a new language for analyzing the historical social, economic and ...

Boiler Plate

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   Notes State Space Model Estimation The Measurement Matrix for the  state space models  was constructed using  Principal Components Analysis  with  standardized  data from the  World Development Indicators . The statistical analysis was conducted in an extension of the  dse package . The package is currently supported by an online portal ( here ) and can be downloaded, with the R-programming language, for any personal computer  here .  Code for the state space  Dynamic Component models (DCMs)  is available on my Google drive ( here ) and referenced in each post. Atlanta Fed Economy Now My approach to forecasting is similar to the  EconomyNow model used by the Atlanta Federal Reserve . Since the new Republican Administration is signaling that they would like to eliminate the Federal Reserve, the app might well not be available in the future. While the app is still available, there have been some interesting...