carlota perez: recurring phases in each great surge
A technological revolution can be defined as a powerful and highly visible cluster of new and dynamic technologies, products and industries, capable of bringing about an upheaval in the whole fabric of the economy and of propelling a long-term upsurge of development.
It is a strongly interrelated constellation of technical innovations, generally including an important all-pervasive low-cost input, often a source of energy, sometimes a crucial material, plus significant new products and processes and a new infrastructure. The latter usually changes the frontier in speed and reliability of transportation and communications, while drastically reducing their cost.
Using Perez's framework, the world has experienced five technological revolutions and “techno-economic” paradigms in the modern era, starting with the Industrial Revolution in the late 18th century, through to the current end of 20th century paradigm - the Age of Information and Telecommunications. So what happens when we look past the present age to the next - the sixth - techno-economic paradigm? What are the new and emerging opportunities that will present themselves in this “sixth paradigm”? Have we already witnessed the innovation that will lie at the heart of the sixth paradigm or is it still ahead of us?