Mind you, any wave of investment in productive equipment associated with a new technology is part of a wave of innovation ... that's what innovation is, putting a new technology to use. However, whether its the next wave along the existing technological channel, or breaking ground for a new technological channel ... that's far easier to see in retrospect.
(I also expect that they would have different ones, each one backing up the position that they are taking on some specific point of contention.)
Its been about eight years since I last looked at the Long Wave theory literature ... more recently I have been more interested in the lower level stuff, in the business literature on entrepreneurship. I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
