The technological mode is a concept that describes not just a set of technologies, but a holistic system of interconnected productions that determines the look of the economy for several decades. The change of such modes occurs in a wave-like manner and explains why some industries decline while others become locomotives of growth. What is a technological mode and how it works The basis of the concept is the theory of long waves of economic conjuncture developed by Nikolai Kondratieff. The periodicity of the change of modes is usually estimated at 40-60 years. The term itself denotes a set of technologically interconnected productions that form a reproductive circuit. Each mode has a \"core\" — leading industries, and a \"key factor\" — a technology that sets the impetus for the development of the entire system. It is important to understand that modes do not replace each other instantly. A new mode is born and gains strength within the framework of the previous one, gradually replacing it. At the same time, old productions do not disappear completely, but remain in certain regions and industries, creating a so-called multi-mode economy. From textile machines to nanotechnology: a brief history The first mode, which began at the end of the 18th century, relied on textile machines and water power. The second, from the middle of the 19th century, is associated with the steam engine, railways, and black metallurgy. The third (end of the 19th — beginning of the 20th century) brought electrification, heavy machinery, and oil refining. The fourth, dominating in the middle of the 20th century, is characterized by the internal combustion engine, automotive industry, precision machinery, and synthetic polymers. Mode Period Core Key Factor First End of the 18th — beginning of the 19th century Textile industry, water mills Water power, ... Read more