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Standard growth theory considers a constant, endogenously defined rate of technological change that generates a log-linear evolution of economic activity. Yet, the persistent current phase of worldwide slowdown triggers the awakening of “long waves” theories. In the present paper, starting from a dynamically evolving synergy of Romer’s “fishing out” and “standing on shoulders” effects, we end up having three mechanisms that provoke a cyclical evolution of applied ideas: a direct impact through applied research’s productivity; an effect through researcher’s effort allocation; and an effect through the allocation of labour force. Putting these together, we initiate long waves of per capita (p.c.) output.

Standing-on-Shoulder and Fishing-Out Synergies: A Model for Endogenous Long-Waves