Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages is an academic book by Carlota Perez that seeks to describe the. Technological Revolutions and Financial Capital has ratings and 27 reviews. Carlota Perez draws upon Schumpeter’s theories of the clustering of. Technological Revolutions and Financial Capital presents a novel interpretation of the Carlota Perez draws upon Schumpeter’s theories of the clustering of.

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Age of oil, automobiles, and mass production. Want to Read saving…. Perez calls this a big-bang.

The new technologies prompting revolutions are not isolated; often many products had existed for some time playing minor roles, until the new technology offers it unprecedented value and scale. Worldwide shippingtranscontinental railwaysworldwide telegraphtelephoneelectrical networks.

Book review of “Technological Revolutions and Financial Capital” | Experiments in Digital Economics

Their desire is to accumulate greater profit-making capacity by innovating, growing, and expanding. Each revolution consists of several technology systems that develop at different rhythms and in a sequence depending on feedback carllota.

Financisl Limited preview – The four phases model is deliberately meant to be impressionistic. Thus, Carlota Perez maintains that society shapes innovation to occur in these predictable revolutionary cycles, providing both a propelling and dampening force at different phases. The model consists of four phases — irruption, frenzy, synergy, and maturity — and deftly describes the tension between agents of technological change, the real economy, tchnological financial or Perez articulates a simple but powerful template for technological innovation and the adoption cycle.


Technological Revolutions and Financial Capital – Wikipedia

Opportunities for investment are decreasing. Aug 01, Jon C. Overall, very worth reading – just set aside hours on afternoon and approach it like you would a study project in college. Each revolution has unique ideological, institutional, political factors that lead to particularities, but the general shape holds true.

Seems to me like social media is just remixing the same parts of the digital revolution in general.

Must read for anyone with remote interest in understanding technological cycles. Each revolution is initially received as a threat to the established way of doing things in firms, institutions, and society — which have all optimized for the previous revolution.

Really suggested for people who want to go beyond appearance and buzzwords. Every revolution combines truly new tech with others that are simply redefined. That is even easier for Europeans than adopting a standardized American way of life which they happily did.

Book Summary: Technological Revolutions, by Carlota Perez

technologicl In Technological Revolutions and Financial CapitalCarlota Perez classifies financial innovations along six types, then illustrates when innovations in each type occur.

In turn this develops into a general social acceptance of diversity and individuality. Thus, while Perez does acknowledge that after a “Frenzy” of new investments, a bust becomes almost inevitable, and that in order to reap the benefits of the new General Purpose Technologies, regulatory reforms will be necessary in order to re-tame the financial system and institute mechanisms to ensure that the benefits from the productivity gains of the new technology are widely spread.


This development and diffusion of technological revolutions tends to stimulate innovations in finance that benefit from impulse they provide. If you accept the framework proposed by the author, the book is life-changing.

The author traces five boom-and-bust cycles of technological innovation: Carloya, I’d recommend reading Kindleberger, Perez, and Janeway in that order — to get basic ajd literacy, form a coherent analytic framework, and understand the practitioner’s perspective, respectively. References to this book Globalization, Poverty and Inequality: Some branches grow at very high rates while others are stagnating.

When there is inertia in technology, unrest in the financial sphere from declining profits and social sphere from wealth inequality prompts looking for radical technology innovations. Perez has very carefully and deliberately mapped out the similarities between the five technological revolutions.

Rockefeller to support them, which I highly recommend seeing. A technological revolution is a cluster of new technologies, products, and industries causing an upheaval in the economy and propelling a long-term surge in development.

John rated it really liked it Nov 08,