A Study on Global Social Process

654 Words Jan 31st, 2018 3 Pages
Sporadic collections of radical innovation expand the technological frontier and transform the ways things are carried out in developed economies. In most cases, such innovations are produced in a single economy that lead the economy and is eventually distributed unevenly to other economies. In the process, the single economy moves to the top position of the technological gradient and obtains the benefits of initiating new commerce and industries. Generally, global social process is currently measured through the waves of economic growth because they are the basic motors in developing global, economic, and political power structures. These long waves of economic growth have huge impacts on several other processes such as energy demands, political processes like public moods, realignment, and conflict as well as overall processes like generational change (Thompson, n.d.). As the primary drivers of change, the long waves of economic growth, which are also known as Kondratieff waves, are greatly pervasive and influential in impacting a huge range of social processes. The not only affect the local social processes but they also have considerable effects on the global social processes. Moreover, as a major global social process, the Kondratieff waves consist of…
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