Carlota Perez

Researcher, lecturer and international consultant, specialized in the social and economic impact of technical change and in the historically changing conditions for growth, development and competitiveness.


WP: Financial bubbles, crises and the role of government in unleashing golden ages
This article holds that the recent financial collapse belongs to a family of major boom and bust episodes associated with the way in which successive technological revolutions .... read more
"Finance and technical change:A long-term view"
The paper presents an alternative model of the emergence and propagation of technological revolutions... read more
"Technological dynamism and social inclusion in Latin America: a resource-based production development strategy"
This paper sets out a strategy for invigorating development in Latin America by taking advantage of specific opportunities in the current context and the advantages offered by the region. It briefly analyses the characteristics of globalization and the techno-economic paradigm of the information and communications technology revolution... .... read more
"Technological revolutions,paradigm shifts and socio-institutional change"
The last decades of the 20th Century were a time of uncertainty and extremely uneven development. People in many countries and in most walks of life feel uncertain about the future for themselves and their workplaces, about the prospects for their own countries and for the world as a whole... read more


Why IT and the green economy are the real answer to the financial crisis
by Carlota Perez
Published by: Green Alliance blog, March 19, 2012

'The whole discussion about how to overcome the financial crisis and its consequences on the economy is wrongly focused. Getting public finances in order and the financial world back on its feet will not bring the world economy back to business as usual. Healthy finance with a languid real economy will naturally find new ways of casino behaviour.'

'What is needed is a set of policies that will decidedly tilt the playing field in such a way that finance would find it more profitable to fund production than to gamble in derivatives or futures, while production, in turn, would find clear pathways to profitable innovation and expansion. We are facing a recurring twice-in-a-century event, equivalent to the 1930s after the crash of 1929, which needs to be understood to find effective solutions.'

This article first appeared in Green Alliance's magazine Inside Track.

You may also like to read:

The New Technological Revolution
by Carlota Perez
Presentation at the Technology Frontiers Forum of The Economist, March 5, 2013

"...History can teach us a lot. Innovation has indeed always been the driver of growth and the main source of increasing productivity and wealth. But every technological revolution has brought two types of prosperity. The first type is turbulent and exciting like the bubbles of the 1990s and 2000s and like the Roaring twenties, the railway mania and the canal mania before. They all ended in a bubble collapse. Yet, after the recession, there came the second type: the Victorian boom, the Belle Époque, the Post War Golden Age and… the one that we could have ahead now. Bubble prosperities polarise incomes; Golden Ages tend to reverse the process.

The first prosperity of each revolution is a huge experiment for testing and choosing the new technologies and for installing the infrastructures (be they railways or electricity or internet). It is an intense process of creative destruction, of learning the new and unlearning the old, of getting rid of the dinosaurs. Innovation concentrates on the new industries (as we saw with the information revolution) and on modernizing all the other industries with the new paradigm. This time, it also concentrated on globalization.

The result is that the range of possible technological avenues is now immense. The power of information technology can enable almost any industry to make its own revolution: the world of medicine, the world of materials or that of biology, the creative industries, transport, energy, buildings, nanotechnology, stem cells, agriculture, 3D printing, robotics... Which is the next big thing? Nobody knows. There are no sure successes. They are all uncertain. But they are indeed powerful paths for innovation and wealth creation..."

Read more... To learn more about this article or to read others like this go to "Media - Articles"


More videos here:

February 2012. Financial bubbles, crises and the role of government in unleashing golden ages. FINNOV Final Conference 2012 - Day 2, ICI, London, UK
February 2008, USA. TOWARDS A SUSTAINABLE GLOBAL GOLDEN AGE Reshaping Globalization and redesigning well being. CUD Global Conference (Connected Urban Development Conference) 2008 City and Country of San Francisco and Cisco Systems.

Carlota Perez: 4. Small Knowledge-Intensive Enterprises: crucial for competitiveness of countries vimeo

Technological Revolutions Financial bubbles Installation Period Frenzy Deployment Period Golden Ages Dual strategy Techno‑economic paradigms Neo‑Schumpeterian Respecialization Synergy Turning Point Future markets Knowledge society Green growth Maturity Full global development Globalization Sustainability Socio‑economic development Paradigm shifts Irruption Market hyper‑segmentation