- Paperback: 224 pages
- Publisher: Edward Elgar Pub (April 26, 2003)
- Language: English
- ISBN-10: 1843763311
- ISBN-13: 978-1843763314
- Product Dimensions: 6.2 x 0.8 x 9.2 inches
- Shipping Weight: 12 ounces (View shipping rates and policies)
- Average Customer Review: 29 customer reviews
- Amazon Best Sellers Rank: #39,952 in Books (See Top 100 in Books)
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Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages
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It [this book] is one of the most interesting histories of technology, if not the most informative, because it dwells on the dynamics of the technology/social/economic systems itself. . . Most tomes with theoretical goals like this are horribly dry, dense, wordy, and well. . .boring. This book is not. Perez writes with vigor, and grace, not taking an extra unneeded word, and not repeating herself. . . like a great many other seminal books, it is easily read by anyone truly interesting in how technology works. --Kevin Kelly, Wired Magazine
This book should be required reading in any senior - or graduate-level course on development economics, management of technology, S&T policy analysis and development, and related subjects. It will be of interest to policy analysts and developers, financial analysts, and others concerned with national, regional, local and global systems of innovation. Perez provides a fresh analysis of technological, financial and social booms and busts in an engaging and refreshing way. The book weaves a compelling new fabric of observation and theory, and shows that something can be done to learn from, anticipate, and deal constructively with, the tribulations of inter-linked technological, economic and social change. It does so concisely and in an idiom that bridges abstract economic theory with tangible human history and experience. If it is brought to their attention - as it should be - this compact book will give hope to those scholars, students and policy analysts who wonder what really happened in the cybertechnolgy/internet
gold-rush prior to 2001 and what could possibly lie ahead. --Morley Lipsett, Science and Public Policy
Carlota Perez s thoughtful book, Technological Revolutions and Financial Capital, does an excellent job of showing the interplay between innovation and capital markets. Her theory is based on Schumpeterian economics - change is more important than equilibrium - and substantial empirical data. Her frame work, if accurate, has direct implications for our economy today. --Michael J. Mauboussin, The Consilient Observer
From 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 --This text refers to the Hardcover edition.
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But overall it does provide a useful framework for the role of finance in the various bubbles since the 1800s, at least the bubbles that were technology based.
Very accessible to an interested reader. A tad more than a modicum of economics background is all that is needed, but if you have much more, you'll not be bored either, I imagine.
I'm in a startup and as I read thru the various chapters, I am constantly analyzing about how our company and target market fit into this framework.
Useful thought exercises.