Scientometric evidence for the existence of long economic growth cycles in Europe 1500-1900

摘要

In times of economic stagnation, the debate about "long waves" of economic growth typically refreshes. This has also been the case in the period of the world-wide economic stagnation since 1970. But the results concerning the existence of long-term cycles of economic activity are still controversial. In this contribution, the "ups and downs in the pulse of science and technology" (Price) are related to economic growth cycles. It turns out that Schumpeter's contention of an inverse relationship between the level of scientific and technological activity on the one side and economic growth on the other side is correct for 1500 to 1900. Thereby also an indirect proof is furnished for the existence of long economic growth cycles in the last centuries.