Theory of Long-Term Technical and Economic Development

The purpose of this study was to summarize theoretical propositions about the main stages of a long-term technical and economic development. Stages of modern technical and economic development are the technological orders. The life cycle of technological order lasts for three Kondratieff cycles. At the same time in the economy, there are three technological orders. The difference between orders is in ratio and efficiency of the use of substances, energy and information, the level of labor productivity, capital intensity and energy intensity of production of goods. The beginning of the formation of the first order can be attributed to the 1720s years. Industrial economy is the first, second, third and fourth technological orders. These provide a way of gradual growth of labor productivity by increasing capital intensity and the energy intensity of the national production. The postindustrial economy is the fifth, sixth and subsequent order. These provide a way of gradual growth of labor productivity due to an increase in the volume of the used information. The capital intensity and energy in stages of national production reduces at the expense of human capital and new technologies.