The 'Kondratiev Waves' (or K-Waves) are hypothesized long-term economic cycles lasting approximately 40 to 60 years, which are primarily driven by massive, paradigm-shifting ___ innovations like the steam engine, electrification, or the internet.

Answer: technological

Named after Russian economist Nikolai Kondratiev, these super-cycles suggest that capitalist economies experience prolonged, multi-decade periods of rapid expansion followed by equally long periods of stagnation and correction. Each wave is fundamentally anchored to a revolutionary technological breakthrough that completely restructures global production, infrastructure, and labor markets before eventually reaching saturation.