Luminary Carlota Perez on technological revolutions and capitalism
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Aug 7, 2023 Renowned scholar Carlota Perez discusses her framework for studying technological change and the adoption of digital technologies, exploring topics such as technology cycles, the role of capitalism, and the impact of government in accelerating digital adoption. Other topics include the intersection of technology and economics, the role of the state in innovation and entrepreneurship, the relationship between technological revolutions and economic growth, and the impact of technological revolutions on capitalism.
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Oil Crisis Sparked Her Interest
- Carlota Perez's interest began in Venezuela's oil-producing context during an energy crisis in the 1970s.
- This experience led her to develop a theory linking technology, economics, and policy.
State Crucial in Capitalism Cycles
- Technological revolutions cause cyclical economic changes marked by booms and crashes.
- The state must intervene post-crash to ensure capitalism benefits society, or populism and instability grow.
Capitalism's Roots in Industrial Revolutions
- Capitalism began with the first industrial revolution around 1772, driven by technological and state innovations.
- Later revolutions, from the second onward, showcased clear patterns linking technology, finance, and national development.