Telecommunications, an instrument of radical change for both the 20th and 21st centuries

This paper compares and contrasts how entrepreneurial disruptions, firm innovations, foreign market expansion and government restraint interact during three distinct periods to create and dramatically expand one service—telecommunications. Because this service has the ability to help business overcome the frictions of time, it has become both an enabling and lead technology in the dramatic economic growth. Telecommunications was instrumental in ushering in the formation of the third Kondratieff long Wave upswing at the beginning of the 20th century and appears to be important in jumpstarting the emerging information economy in the fifth Kondratieff Wave at the end of the 20th century.