World-System (1950-2150) Stable French Technology Cycles
The 2025 Nobel Prize in Economics ( here ) was awarded for having explained the role of innovation and Creative Destruction in Sustained Economic Growth . Particularly interesting (to me) was the Aghion and Hewitt paper A Model of Growth Through Creative Destruction , which won them part of the Prize. Does the 2025 Nobel Prize have anything to say about current French economic development and political instability? I have two explicit models for technological change, one for Productivity change ( TECHP ) and another for Efficiency change ( TECHE ). The models are based on State Space indexes (see the Notes below) constructed using Principal Components Analysis ( PCA ). The Phase Space for the FR TECHE model is displayed above. The Phase Space for the FR TECHP model is displayed below. Both models are cyclical and stable with periods of over a Century (see the Notes ...