The Sergei Glaziev Interview: Understanding Ukraine in 15 Minutes

[newthinking]

1. This one hits the crux: Structural Changes in the Global Economy are often preceded by Great Crisis

1. Structural Changes in the Global Economy are often preceded by Great Crisis and War

The world today is going through an overlap of a whole series of cyclical crises. The most serious of them is a technological crisis which is associated with changes in the wavelengths of economic development. We’re living in a period when the economy is changing its structure. The economic structure that has been driving economic growth for the last 30 years has exhausted itself. We need to make a transition to a new system of technologies. This kind of transition, unfortunately, has always come about through war. That’s how it was in the ’30s when the Great Depression gave way to an arms race and then the Second War World War. That’s how it was during the Cold War when an arms race in space gave rise to complex information and communication technologies which became the basis of a technological structure that has been driving the world’s economy for the last 30 years. Today we are faced with a similar crisis. The world is shifting to a new technological system.