Abstract
Previous researchers have associated long wave cycles with waves of innovation and with substitution among primary energy sources. This paper combines these observations with M. King Hubbert's analysis of our industrial culture of exponential growth to produce a comprehensive theory of long wave cycles. This theory states that long wave cycles are caused, for the most part, by the rapid growth of key technologies which ultimately strain the supply of natural resources upon which they are based. This phenomenon is transitory in human history and is analogous to the natural growth mechanism of living organisms. Supporting data is presented that describes and tracks the technological feedback loops associated with coal and steel in the post-Civil War period and petroleum, natural gas, and metal alloys after the Great Depression.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
