Theory of Long-Term Technical and Economic Development

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Abstract

The purpose of this study was to summarize theoretical propositions about the
 main stages of a long-term technical and economic development. Stages
 of modern technical and economic development are the technological orders.
 The life cycle of technological order lasts for three Kondratieff cycles. At the same
 time in the economy, there are three technological orders. The difference between
 orders is in ratio and efficiency of the use of substances, energy and information,
 the level of labor productivity, capital intensity and energy intensity of production
 of goods. The beginning of the formation of the first order can be attributed to the
 1720s years. Industrial economy is the first, second, third and fourth technological
 orders. These provide a way of gradual growth of labor productivity by increasing
 capital intensity and the energy intensity of the national production. The postindustrial
 economy is the fifth, sixth and subsequent order. These provide a way
 of gradual growth of labor productivity due to an increase in the volume of the
 used information. The capital intensity and energy in stages of national production
 reduces at the expense of human capital and new technologies.

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