Review
Carlota Perezs thoughtful book... does an excellent job of showing the interplay between innovation and capital markets. --
Michael J. Mauboussin, The Consilient ObserverDr Perez has provided a road map to relevance both for scholars and investors. --
William Janeway, Vice Chairman, Warburg Pincus and Founder, Cambridge [University] Endowment for Research in Finance, UKI 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 NetherlandsPerez focuses on well-defined issues . . . There are many enlightening findings in this book --
Bertrand M. Roehner, EH.NetPerez provides a fresh analysis of technological, financial and social booms and busts in an engaging and refreshing way. --
- Morley Lipsett, Science and Public Policy, October, 2002Perez shows us that historically technological revolutions arrive with remarkable regularity, and that economies react to them in predictable phases. --
W. Brian Arthur, Santa Fe Institute, New MexicoTechnological Revolutions and Financial Capital, does an excellent job of showing the interplay between innovation and capital markets. --
- Michale J Mauboussin, The Consilient Observer, December 17, 2002[Perez's] frame work, if accurate, has direct implications for our economy today. --
Michale J. Mauboussin, The Consilient ObserverFrom the Inside Flap
. . . Dr Perez has also provided a road map to relevance both for scholars and investors who, having survive the Great Bubble of 19992000, must needs concern themselves with what happens next. William Janeway, Vice Chairman, Warburg Pincus, US and Founder, Cambridge [University] Endowment for Research in Finance, UK
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 Schumpeters 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
Before I read this book I thought that the history of technology was to borrow Churchills phrase merely "one damned thing after another". Not so. Carlota Perez shows us that historically technological revolutions arrive with remarkable regularity, and that economies react to them in predictable phases. Her argument provides much needed perspective not just on history, but on our own times. And especially on our own information revolution. W. Brian Arthur, Santa Fe Institute, New Mexico
This is a smashing book. It informs us that the emphasis on finance that marked the excesses of the 1990s has historically occurred with each great wave of new technologies, only to later shift the focus back to production. Fascinating. May the shift happen again soon. Richard R. Nelson, Columbia University, US
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