Carlota Perez of the London School of Economics discusses the need for radical changes to harness the benefits of the current technological revolution. Topics include the phases of technological evolution, green innovation driving capitalism, tax reforms for sustainable investments, and the role of governments in shaping a sustainable global economy.
Technological revolutions follow cyclical patterns with societal challenges and eventual benefits.
Strategic socio-political choices and government policies are crucial for a sustainable technological golden age.
Deep dives
Technological Revolutions Overview
The podcast discusses five significant technological revolutions outlined by Professor Carlotta Perez in her book. These revolutions, including the Industrial Revolution, the age of steam, the age of steel, the age of the automobile, and the age of information, follow similar patterns of evolution with distinct installation and deployment periods marked by infrastructure development and societal challenges.
Cycle of Technological Evolution
Professor Perez highlights the cyclical nature of technological revolutions, emphasizing the polarization and challenges faced during the installation period. These challenges often lead to visible social and economic disruptions, culminating in a bubble burst. However, the deployment period that follows allows for the widespread benefits and advancements of the technology to be realized, incorporating social welfare improvements.
Path to a Sustainable Future
The podcast explores the current technological revolution and the necessity for strategic socio-political choices to usher in a sustainable golden age. It emphasizes the role of governments in shaping policies to support innovation and green technologies, advocating for a shift in the tax system towards incentivizing long-term investments and environmental sustainability to navigate towards a global sustainable golden age.
Tech utopia or tech dystopia? Carlota Perez of the London School of Economics talks to John Thornhill about the radical changes she believes are needed if we are to harness the benefits of the current technological revolution