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

Economist Carlota Perez argues that the economy moves in long waves driven by technological revolutions, from the Industrial Revolution to railways, steel, oil and information technology. Each wave, she shows, follows the same pattern. Financial capital floods into the new technology, inflating a bubble that eventually crashes. After the crash and institutional reforms comes a golden age when the technology spreads through the whole economy. The book explains how finance and production interac…

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Chris Dixon: “Here's a chart (from this excellent book by Carlota Perez via Fred Wilson)”
Bill Gurley: “Carlota Perez's book, which I just find perfect for trying to understand whether there's a bubble”