A note from Daniel

In her 2002 book, Technological Revolutions and Financial Capital, Carlota Perez, an economic historian, describes how tech-driven economic revolutions follow predictable cycles. First there is an "installation phase," involving an "irruption," or tech breakthrough, followed by a "frenzy" of speculation. Then comes a market crash: the bubble bursts. After that, a "deployment phase" takes place, including a period of "synergy," where the new tech gets adopted. Finally, industry consolidates and reaches "maturity," making once-groundbreaking inventions routine.

Daniel Read Write Own, page 150 · March 12, 2024 Save to shelf
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