Case Description – Opportunities in the Next Socio-Economic Wave

The background of the case comes from the theories of Russian economist Nikolai Kondratiev, who introduced the idea of socio-economic waves. Kondratiev waves are major socio-economic cycles which are driven by technological innovation, penetrate the economic and societal structures and create economic growth. The waves
take tens of years to complete.

Markku Wilenius from Finland Future Research Centre assumes that we have just entered a new socio-economic wave, which will be characterized by globalization, demographic changes, decreasing resources, ecological awareness and active prosumerism.

Challenges

• The sixth economic wave challenges the traditional Finnish industries and its business logic
• Traditional working models offer very little flexibility to meet the challenges

Opportunities

• The creation of new industries, operations and jobs, also on the countryside
• Room for building partnerships and new ways of working

Main Objectives

To find models for the traditional Finnish industries (for example forestry) to meet the challenges of changing world and economic climate
To identify new sectors and business opportunities emerging from the change as well as its effect on regional development and job market. What will future jobs be and where they will be located?
To develop visions of new partnerships and working models to strengthen national and regional competitiveness in the new economic climate