Re-study On The Role Of Technological Progress In The Long Economic Wave

The global economic development has gone through four long waves and is going through fifth long waves.The outbreak of the global financial crisis in 2008 has brought about a long recession ahead of time,and the economic development of various countries has entered a downward phase.In the face of this crisis,whether the different measures of various countries will turn the crisis into a small fluctuation in the long wave or plunge into a long depression is a question worth pondering.Therefore,it is of great significance for China in the new normal economy to study the law of long-wave economic operation and to judge the stage of the fifth long-wave economic development in combination with the economic development of our country and the response measures in the face of crisis.This paper combs and interprets Schumpeter's innovation theory,economic long wave theory and Marx's general profit margin decline law and economic cycle theory,and explores the role and influence of technological progress on economic development in the long wave of economy.When it is generally believed that technological progress is an important driving force for economic growth,it is proposed that Technological progress can be divided into "leapfrog" technological progress and "flat-step" technological progress,and they have different effects on economic development."Leap-forward" technological progress can promote the development of productive forces,change the mode of production and improve production efficiency.While "flat-step" technological progress is the extension and development of "leap-forward" technological progress,which can effectively improve production efficiency.However,if there is no "leap-forward" technological progress in a period of time,it will be excessive.Developing "flat-step" technological progress and blindly improving production efficiency may lead to overproduction and the outbreak of economic crisis.With the increase of knowledge stock,the positive effect of "flat-step" technological progress on economic growth becomes shorter and shorter in each round of long-wave economy,and the accelerated development of "flat-step" technological progress may also be the reason for the shorter duration of long-wave economy.In addition,through the conclusion of the study,combined with the history of China's economic development,from the perspective of technological progress to interpret China's economic development,analyze the status quo of China'stechnological progress and judge the current stage of China's long-wave economy.