Researcher, lecturer and international consultant, specialized in the social and economic
impact of technical change and in the historically changing conditions for growth, development
...the book fills an important gap in the literature on business cycles and innovations. I most strongly commend it to all those attempting to understand the past and future evolution of technology and the economy.'
Christopher Freeman, Emeritus Professor, SPRU,
University of Sussex, UK
'...Carlota Perez shows us that historically technological revolutions arrive with remarkable regularity, and that economies react to them in predictable phases. Her argument provides much needed perspective not just on history, but on our own times. And especially on our own information revolution.'
W. Brian Arthur, Santa Fe Institute, New Mexico
Carlota Perez. Venezuelan-British. Researcher, lecturer and international consultant, specialized in the social and economic impact of technical change.
She is Honorary Professor at the Institute for Innovation and Public Purpose, UCL-U.K. and at SPRU, Science and Technology Policy Research, University of Sussex, U.K. She is also Adjunct Professor at the Ragnar Nurkse School of Innovation and Governance, TalTech, Estonia and Academic in Residence at Anthemis UK. She was Centennial Professor 2013-2016 at the London School of Economics (LSE).
Her articles from the early 1980s and her book Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages [Elgar 2002] have contributed to the understanding of the relations between technical and institutional change, between finance and technological diffusion and between technology and economic development.
'... a road map of relevance both for scholars and investors who, having survived the Great Bubble of 1999-2000, must needs concern themselves with what happens next'
William Janeway, Vice Chairman of Warburg Pincus, USA. Author of Doing Capitalism
'The financial captains - in Tom Wolfe's memorable phrase, "the Masters of the Universe" - would be well-served by this dose of history. So, too, would the leaders of productive capital, as they struggle to add value in a frenzy of financial speculation. And as for policy-makers, the answer is obvious - Perez's insights are not just important; they are urgent... Do read the book. It is important. It is accessible. It is well presented. It's also fun.'
Raphie Kaplinsky, IDS, University of Sussex and CENTRIM, University of Brighton, UK From Review in Technovation
ON THEORETICAL FRAMEWORK: “Capitalism, Technology and a Green Global Golden Age: The Role of History in Helping to Shape the Future”
The increased awareness of the role of technology and innovation in the economy has not yet found a clear expression in orthodox economic theory – or in the growth strategies being applied across most of the advanced world. There are currently widely divergent opinions... read more
ALSO ON THEORETICAL FRAMEWORK: “From long waves to great surges: continuing in the direction of Chris Freeman’s 1997 lecture on Schumpeter’s business cycles”
The first edition of Theory of economic development was published in 1911. It is a well known fact that after his death Joseph Alois Schumpeter – the most quoted economist after Keynes – experienced a purgatorial season from which he emerged at the time of the first petroleum shock... read more
ON DEVELOPMENT: “Innovation as Growth Policy: The Challenge for Europe”
The advanced world is facing a crucial moment of transition. We argue that a successful outcome requires bringing innovation to the centre of government thinking and action...
ALSO ON DEVELOPMENT: "The new context for industrializing around natural resources: an opportunity for Latin America (and other resource rich countries)?"
This chapter argues that development is a moving target, and that windows of opportunity to both ‘catch up’ and ‘leap ahead’ present themselves at certain times and in specific regions due to technological revolutions and paradigm shifts. Having examined the historical precedents...
ON ORGANIZATIONAL CHANGE: "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
ON THE BOARD
I have a separate website for my current research project, funded by Anthemis UK:
I am working on a sequel to Technological Revolutions and Financial Capital, this time focusing on the role of the state.
There will be articles and blogs as the project progresses. Your comments will be welcome.
I argue that this revolution is indeed unique, but also one of a series of five, rather than only the second since the Industrial Revolution in England, as they claim. So I make various parallels with previous ones. And yet, I also wonder why, if it is such a momentous transformation, their policy recommendations are so timid and give such a small role to public policy. The discussion of those recommendations will follow in subsequent blogs.
In October, Sogeti invited me back for another 2019 Executive Summit but this time, in Paris. I presented my ideas about how we are at a crucial moment for shaping technology towards a meaningful sustainable future and explained how this is the challenge of this generation.
In September, Sogeti invited me to speak at their 2019 Executive Summit: Utopia for beginners. I presented my ideas about how we are at a crucial moment for shaping technology towards a meaningful sustainable future and explained how this is the challenge of this generation.
In May I participated in a discussion with Kate Raworth, the author of Doughnut Economics, moderated by Mariana Mazzucato. It was the first in a series of discussions on Innovation and the Welfare State jointly organized by IIPP-UCL and the British Library:
Kate brilliantly presented her notion of development in a space that is sustainable, both socially and environmentally. I presented five lessons from history leading to why this is the moment to shape technology in the direction of smart green growth.
In April I gave the final lecture of the IIPP Course on Rethinking Capitalism:
Last November I gave a talk in a major event of the Leading Edge Forum in London.
“What is new is old: Recurring Patterns in Economic History”
On September 20th I gave a talk in the event for the 100th Anniversary of TalTech in Tallinn, Estonia. I spoke about how universities need to go beyond what they teach, and start seriously
thinking about how they teach, in order to prepare students to live in a world where self-guided learning and innovation are likely to be the typical behavior and change is to become the
On September 14th I spoke at the Democratic Design Day organized by IKEA in Lugano, Switzerland. I concentrated on how lifestyles have changed with each technological revolution
and why it’s so important to accelerate the shift to ‘smart green lives’.
In the Anthemis Hacking Finance Retreat in Méribel, in the French Alps, I gave a talk about why we are in a time similar to the 1930s and why government has to come back actively and what the role of fintech can be:
What I mean by ‘adequately’ is that it cannot be in the same way as when unleashing the Post War boom, by shaping the mass production revolution; it needs to understand and give (an environmentally and socially sustainable) direction to the ICT revolution.
Steve Denning, the chair of the panel in which I spoke at the Global Drucker Forum, published my talk in his Forbes column:
I essentially argue that technological revolutions radically change the nature and conditions of work and they therefore require welfare revolutions and institutional innovations. And, to be consistent, those who think giving something for nothing is harmful for people should also be against inheritance.
Anthemis held a camp in the French Alps last summer and Sean Park, the founder, engaged in conversation with me, after my talk. Video and transcript are up in their new monthly journal, Hacking Finance.
Peter Day interviewed me for the Drucker Forum, where I spoke on November 17th.
I contributed a chapter titled ‘Transitioning to Smart Green Growth: Lessons from History’ for the recently published book Handbook on Green Growth, edited by Roger Fouquet (Elgar 2019).
I wrote a blog for UNCTAD titled "An opportunity for ethical capitalism that comes once in a century". It refers to how midway along the diffusion of each technological revolution society gets a chance to actively shape the new technologies with a social purpose in mind. A global sustainable golden age is a real possibility and the chance to shape it is now.
There is a chapter of mine on using natural resources as a platform for industrialization in Akbar Noman and Joseph Stiglitz (eds.)
(2016) Efficiency, Finance and Varieties of Industrial Policy: Guiding Resources, Learning and Technology for Sustained Growth
Here is the table of contents. And here is the previous working paper.
I sent a letter to the Financial Times arguing with J. Rostowski’s article about how to interpret the parallel with the 1930s for explaining today’s success of the populists.
You can access the letter and the discussion in the comments via my new Twitter account: @CarlotaPrzPerez