The important role of Chris Freeman in the study of economics of innovation theory has been confirmed by his enormous contributions to the history of modern economic science via the revival of the Schumpeterian tradition focusing on the crucial role of innovation for economic development and of scientific and technological activities for well-being. This comment focused on Chris Freeman's discussion on the structural crises of adjustment, business cycles and investment behaviour in long-term fluctuations in the growth of the world economy and particularly in the Schumpeterian theory of business cycles. This comment began by looking at the framework of the article written by Chris Freeman and Carlota Perez in 1988. Next, the most significant advantages of the article were set forth with interpretations. The final section concluded the discussion by reflecting on his role of the soul mentor for guiding to write a new chapter in the new era.
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