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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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The nature of the paradigm can favor certain comparative advantages. And thus technology shapes society. But other collapses may have other causal chains.

Second, the book largely ignores institutions, or more specifically, political agency within institutional frameworks.

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

The internet made distribution nearly free, reduced startup costs, and enabled discoverabilty. The four phases model is deliberately meant to be impressionistic.

The Dynamics of Bubbles and Golden Ages. ORG – Carlota Perez”. Oct 17, Nils rated it really liked it Shelves: Legal loopholes fiscal havens Making money from money, taking advantage of incomplete information FX arbitrage, leads and lags Making money without money pyramid schemes, insider trading.

Whether the sum of these trends shows up in aggregate metrics depends on the relative weights and relative growth rates. As well as your cralota to gentrified Brooklyn which I guess came in part from my dissertation intro and Park Slope experience…. Again, a product of design.

The new wealth that accumulates at one end is often more than counterbalanced by the poverty that spreads at the other end. As the revolution techonlogical, technological innovation shows decreasing returns and markets become saturated. Consequently, I’d recommend reading Kindleberger, Perez, and Janeway in that order — to get basic rrevolutions literacy, form a coherent analytic framework, and understand the practitioner’s perspective, respectively.

For a taster, follow the link to the author’s publications on her website – http: Te author relates also those trends with their social aspects and the disruption they brought to the social fabric. My library Help Advanced Book Nad. Through the life cycle of the revolution, the core country begins as a net exporter of the technology, then becomes a net importer as the paradigm reaches the periphery. A quite brilliant synthesis of Kondratiev’s theory of long capitalist “waves” with Schumpeter’s theory of creative destruction, connected through the role of the finance industry in moving capital from stodgy fading industries into dynamic but risk ones.


Mar 08, Monik Sheth rated it really liked it. Thus producers benefited from large economies of scale, encouraging homogenization of consumption. Most of core assets of tech revolutions already existed.

Society shapes technological revolutions by cycling between inertia and desire for growth.

Not all financial collapses are strictly revolutoons with technological revolutions. This does not last long, as in maturity there is heterogeneity in dynamic growth of latecomer branches and sluggish growth in the now traditional core industries.

Political pressures begin calling for action to propel the required institutional changes to accommodate the new revolution. Production expansion domestically and abroad bonds Government funding eg war, infrastructure investment. The model consists of four phases — irruption, frenzy, synergy, and maturity — and deftly describes the tension between agents of technological change, the real economy, the financial or Perez articulates a simple but powerful template for technological innovation and the adoption cycle.

This is one of the best books I read this year. Where do you think we are now? Mar 09, Max Nova rated it it was ok Shelves: The book identifies five bursts of technological innovation that have occurred in industrial history. Mar 26, Andrew Han rated it it was amazing Shelves: Return to Book Page. You must be logged in to post a comment. Perz 31, Rohit Gattani rated it it was amazing.

Changed the way I look at the world. Each revolution consists of several technology systems that develop at different rhythms and in a sequence depending on feedback loops.

Book review of “Technological Revolutions and Financial Capital”

Great analysis on how the mix of technological innovat Very interesting perspective on how economic growth and decline periods are related to great technological inventions and their role in shaping societies.

The account of how financing that is, how money “seeks” to fund innovation and then “make money from money,” or “rent-seeking” as the kids like to say is especially intere What you get from this book is an explanation of how new technologies and the resulting changes in society esp. There are no discussion topics on this book yet. Perez provided a descriptive model of previous technological revolutions and in particular how they interacted with financial and production capital.


The Dynamics of Bubbles and Golden Agesby Carlota Perez, lays a framework for understanding the boom and bust cycles of disruptive technologies. These technological breakthroughs spread far beyond the industries and sectors from which they originated — they cause broad jumps in productivity for a vast span of economic activities.

First, it not only is basically technodeterministic, but also treats the renewal of technological waves as an apparent inevitability, spurred by some endogenous quality of the technologies themsel A quite brilliant synthesis of Kondratiev’s theory of long capitalist “waves” with Schumpeter’s theory of creative destruction, connected through the role of the finance industry in moving capital from stodgy fading industries into dynamic but risk ones.

It’s already changed a lot of the way I think about innovation and investment. What a lot of people fail to realize is that Kodak owned many of the patents on the chips inside the digital Nikon and Canon cameras that ultimately undid film. Drew very heavily from Kuhn’s Structure of Technologcal Revolutions book – heavy on “paradigm shifts”. The transitions entailed significant social and economic transformation not only in financial innovation but in society, law, regulatory framework, corporate structure and governance, and public expectations.

Other features include intense investment in the revolution, and decoupling with the whole system, and this is when the financial bubble happens.

Revolutions gevolutions involve significant changes in direction, uninstalling what was previously installed, unlearning much of the old to learn the new, closing dead end paths as others are jumping onto new bandwagons. So I personally disagree about the co-relations drawn between the rise of technology and the demise of Kodak.

Did not care for it.