New technologies, business cycles: Controversies and paradoxes

Abstract

Debates over the business cycle in the economic theory have been continuously carried out. Some have, but others have not adopted tricyclic, or multicyclic scheme because so far they have not or even have been convinced by the Kondratiev's theoretical analysis and Schumpeter's historical analysis, but numerous statistical analysis of the US National Bureau of Economic Research, so frequently used in this field, and especially in Mitchell, Barnes, Torpa, Hansen and others confirm the thesis of the need for further research continuity. The world economy goes through 'a tectonic shift' and through the deluge and booms of transformation. The new technologies and globalization change the world. Technology will (which was considered to be a residual factor by economists for years) rather than the market affect the direction and pace of economic development. The question is: Can the cycles be predicted and planned as such and can their formation be prevented? Who and what are the causes and how to successfully master them while they last?.