technological revolutions

Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages

‘It was Carlota Perez in the early 1980s, who designated the major changes in technology systems, such as mechanization, electrification or computerization, as "changes of techno-economic paradigm" a designation which has since been widely adopted. In this book she offers many new insights into these complex processes of social, economic and technological change. She traces the interactions between that part of the economy commonly known as "financial capital" and the evolution of technologies. Although this was an important aspect of Schumpeter’s original work, it has been neglected by his followers, so that the book fills an important gap in the literature on business cycles and innovations. I most strongly commend it to all those attempting to understand the past and future evolution of technology and the economy.’ – Christopher Freeman, SPRU – Science and Technology Policy Research, University of Sussex, UK and Maastricht University, The Netherlands