In recent years a substantial number of scholars have attempted to interpret a number of phenomena of our time and/or the result of analyses of various time series as the trough between the fourth and fifth Kondratieff waves. In their (implicit or explicit) view, there will be a fifth Kondratieff, i.e., an economic wave of some 50 years’ duration, carried by a new bunch of innovations (e.g., microelectronics, robotics, bioengineering, etc.).