Abstract: Innovation is the primary driving force for high-quality economic development and the main explanatory factor for long-term economic fluctuations.Innovation theory master Schumpeter proposed that entrepreneurial innovation activities are the intrinsic driving force behind long-term economic fluctuations.However,Schumpeter did not provide sufficient explanation for why innovation activities,especially the phenomenon of innovation clustering,exhibit specific periodicity.In addition,the long wave driven by entrepreneurial innovation cannot well explain the fifth Kondratiev long wave triggered by technological competition between the United States and the Soviet Union after World War II.The essence of technological evolution is the recursive combination of technological modules,so technological systems are inevitably showing an increasingly complex trend.The increase in technological complexity makes technological innovation increasingly dependent on the collaborative promotion of multiple entities.Therefore,the involvement of the state as an organizer and coordinator in major technological innovation activities is an inevitable result of technological evolution.This article attempts to incorporate the state into the Schumpeter long wave model and examine “New Quality Productive Forces” from the perspective of technological revolution,in order to construct a multi subject driven long wave theoretical conceptual model.On the basis of historical investigation of the fifth long wave,it is proposed that “competition among major powers is an important force in opening up the economic long wave”,and then the driving mechanism and organizational model of the development of new quality productive forces are explained,providing theoretical and policy inspiration for China’s development of new quality productive forces and leading a new wave of technological revolution.