What are the major new growth markets of the future? Why do groundbreaking innovations – like the computer, the automobile or the steam engine in the past – increasingly fail to materialize? What are the current growth barriers that hinder the further development of economy and society?The reader will find answers to these questions in this book. The Theory of Long Waves serves as a scientific foundation. In short, it states that economic and social development is significantly determined by periodic cycles that last between 40 and 60 years. In honor of their discoverer Nikolai Kondratieff, these long waves are called Kondratieff cycles.Since the late 18th century, economists have empirically proven five Kondratieff cycles. The long waves have a particularly strategic role: those, who identify the respective current Kondratieff cycle early on are able to focus on the future, to take the lead in economic and social development and benefit the most from its momentum – just like the leading command of information technology during the last, the fifth Kondratieff cycle made full employment and increasing wealth possible for these countries.The fifth Kondratieff cycle ended with the turn of this century, while a new long cycle, the sixth Kondratieff, has begun. As the analyses in this book show, the health care market will be the driving force of this new Kondratieff cycle. However, health is not just seen in a physical, but also in a holistic sense, encompassing the physical, psychological, mental, psycho-mental, social and spiritual aspects.Why are health expenditures that were previously considered a mere cost factor going to assume the role of a growth locomotive in the future? We need to recall the findings of modern growth theory here: the most important source for economic growth in developed countries is productivity advancements. The analyses in this book show that a new understanding of health is indispensable to improve productivity on all levels of the economy and society. Thanks to this new understanding, health will become a strategic weapon for the next 50 years.This book is tailored to a general audience, includes 76 graphics and 13 tables and is aimed at stakeholders in economy and society, experts and managers and all those, who are interested in the future. The book is already in its seventh edition in the German-speaking countries. Aside from a profound analysis, the book also describes measures to develop the sixth Kondratieff.

What are the major new growth markets of the future? Why do groundbreaking innovations - like the computer, the automobile or the steam engine in the past - increasingly fail to materialize? What are the current growth barriers that hinder the further development of economy and society? The reader will find answers to these questions in this book. The Theory of Long Waves serves as a scientific foundation. In short, it states that economic and social development is significantly determined by periodic cycles that last between 40 and 60 years. In honor of their discoverer Nikolai Kondratieff, these long waves are called Kondratieff cycles. Since the late 18th century, economists have empirically proven five Kondratieff cycles. The long waves have a particularly strategic role: those, who identify the respective current Kondratieff cycle early on are able to focus on the future, to take the lead in economic and social development and benefit the most from its momentum - just like the leading command of information technology during the last, the fifth Kondratieff cycle made full employment and increasing wealth possible for these countries. The sixth Kondratieff cycle has begun with the turn of this century. As the analyses in this book show, health care will be the driving force of this new Kondratieff cycle. However, health is not just seen in a physical, but also in a holistic sense, encompassing the physical, psychological, mental, psycho-mental, social, ecological and spiritual aspects. Why are health expenditures that were previously considered a mere cost factor going to assume the role of a growth locomotive in the future? We need to recall the findings of modern growth theory here: the most important source for economic growth in developed countries is productivity advancements. The analyses in this book show that a new understanding of health is indispensable to improve productivity on all levels of the economy and society. Thanks to this new understanding, health will become a strategic weapon for the next decades. This book is tailored to a general audience, includes 76 graphics and 13 tables and is aimed at stakeholders in economy and society, experts and managers and all those, who are interested in the future. Aside from a profound analysis, the book also describes measures to develop the sixth Kondratieff.

In the period from the 1920s to 1930s the theory of economic cycles underwent dramatic changes. Due to the research of such famous economists as Nikolay Kondratieff, Joseph Kitchin, Wesley Mitchell, Simon Kuznets, and Joseph Schumpeter the idea of a whole system of economic cycles (with characteristic periods between two and sixty years) was developed. The idea of a system of intertwined economic cycles is nowadays paramount to the school of evolutionary economics and its development promises rather interesting future outcomes. That is why this issue of our ‘Kondratieff Waves’ Yearbook is devoted to the interconnections between various economic cycles. As to the subtitle of this volume, one should note that many of the contributors refer to the system of cycles and the fact that real economic cycles make up a system, whereas among different types of cycles, the Juglar, Kuznets, and Kondratieff cycles are the most important ones for the present-day economic dynamics. Although Kondratieff himself considered long waves as above all an economic phenomenon, the theory of the long waves became, however, very actively developed in connection with their political and geopolitical aspects. In this Yearbook, the political aspect of Kondratieff waves is the subject of several articles in the second section. The last section of this Yearbook is devoted to the heritage of Kondratieff and other prominent economists. The year 2015 marks the 150th anniversary of the outstanding Russian economist, one of the most prominent researchers of medium-term economic cycles, Mikhail Tugan-Baranovsky, and the volume is concluded with Kondratieff's article about him. Concerning 2015, we should mention another anniversary, namely, 30 years since the death of Simon Kuznets (1901–1985). This edition will be useful for economists, social scientists, as well as for a wide range of those interested in the problems of the past, present, and future of global economy and globalization.