Abstract The work briefly outlines the main provisions of Solow’s neoclassical theory of economic growth, Keynes’s teachings on state regulation of the economy in crisis situations, and Schumpeter-Kondratieff’s innovation-cyclical theory of socio-economic development, which explains long cycles lasting 30-50 years. Taken together, these three theories make it possible to build effective long-term socio-economic policies that can ensure sustainable development. The work centers on a critical analysis of empirical research since the pioneering work of Kaldor (1961). Empirical (stylized) facts accompanying the process of long-term economic growth played an important role in assessing the quality and consistency of theories of growth and development in the industrial era. In particular, they confirmed the main theoretical positions and conclusions of Solow’s neoclassical growth theory and contributed to its widespread dissemination. As a result, the authors have selected seven stylized facts suitable for assessing and selecting models of long-term economic development in the digital era. The principles of socio-economic policy capable of ensuring sustainable development during the 6th long economic cycle/Kondratieff wave period (the 2020s to the 2050s) are outlined.
Akaev et al. (Fri,) studied this question.