The Sixth Kondratieff - The New Long Wave in the Global Economy
Five Kondratieff waves have been empirically proven by economists since the late 18th century and 19 Kondratieff waves by historians since the 10th century. The long cycles fulfill a particularly strategic role: those who identify the current Kondratieff wave early are able to gear themselves towards the future, take the lead in economic and social development and benefit the most from its momentum.
The last long wave, the fifth Kondratieff cycle, which obtained its power from information technology, has ended with the close of the 20th century. While the fifth wave ended, the sixth Kondratieff started. As the analyses in this book show, the health care market will be the growth vehicle of the new Kondratieff wave.
What makes countries like the U.S. and Germany that boast full employment and a high standard of living different from countries with high levels of underemployment, unemployment and a low standard of living?
One difference is that the first group already taps into the job and wealth-creating potential of the sixth Kondratieff, whereas the second group has not yet started to do so (see “Questions about the Sixth Kondratieff“).
What makes the Scandinavian countries that offer a high quality of life different from countries where poverty, high levels of social inequality and lack of prospects exists?
One difference is that there is less corruption, crime and social inequality in the first group compared to the second group.
Corruption, crime, and extreme inequality are among the greatest obstacles to the sixth Kondratieff because social disorder severely impedes economic and social progress (see the article ”The 6th Kondratieff“).
The healthcare economy is of extreme strategic importance for the further development of economy and society. The successful countries are also characterized by having an innovative and above-average growth healthcare industry, thus offering the most promising prerequisite for shaping their future.
Translation by Elena O´Meara