13 th November, 2019, we welcome Associate Prof. Walter Scherrer to our series lecture on “Economics and Business”, as well as his speech on Insights from "Long Waves" of Economic Development for Innovation and Economic Policy. Walter Scherrer is director of the Programs MBA, Business Schoolof University of Salzburg, Austria. His research interests include Long Wave Theory, Innovation Economics and Innovation Policy.The lecture was hosted by Prof. Xiangdong Chen from School of Economics and Management at Beihang University.
In the followinglecture,Associate Prof. Walter Scherrer starts with an overview of contributions of early writers and of major empirical characteristics of the long waves. Conceptual requirements, the dynamics, and the phases of long waves are discussed and it is shown that innovation patterns vary between the phases of an individual long wave and between different long waves. It is argued that the long wave-concept – although stipulating a recurrent process of development – is non-deterministic as it allows for economic policy having an impact on the course of economic development, and consequently suggests an active role of government in supporting technological development.
During and after the lecture, more than 20 scholars and students from BUAA SEM discussed the key points of the talk with Associate Prof. Walter Scherrer and also raised quite a few relevant questions,which provoke further thinking on the issue from both parties.
