Mystery of the 5th wave — is the Earth too small for it?

Abstract

Long waves are the longest economic cycle with an approximate length of 50-60 years. Most of the exponents of the long wave theory are convinced about their relation to innovations of the highest level. The most important theoreticians of long waves are N.D.Kondratiev and J.A.Schumpeter. It is generally accepted that there have been 4 whole cycles, so called Kwaves, since the beginning of the industrial revolution. However, economists differ in the opinion, whether we are witnessing the beginning of the 5 wave now, or the 5 wave has not started yet. This 5 wave should be initiated by information technologies, respectively by the so-called economy 4.0. However, if the 5 K-wave is already going on, then its course is significantly different from the upswing phase of the previous four waves and there is a question, what caused this. As the previous four K-waves always led to a significant territorial growth in markets, there is a provocative question, whether the Earth is not already too small for the awaited 5 wave and if this wave is not connected with expansion into the space. The first efforts in this direction can be seen already these days.