“Smart & green. A new “European way of life” as the path for growth, jobs and well-being” (With Tamsin Murray Leach)

Perez, Carlota and Murray Leach, Tamsin (2018): Smart & green. A new “European way of life” as the path for growth, jobs and well-being. In: Council for Research and Technology Development (ed.): Re-thinking Europe. Positions on Shaping an Idea. Vienna: Holzhausen, pp. 208-223.

BTTR Working Paper Series 2008-1  
Link: BTTR_WP_2018-1.pdf

From the publishers in English and German: WZ_Rethinking_Europe_ENG.pdf and RE:THINKING EUROPE - Positionen zur Gestaltung einer Idee

Table of Contents:

1. Introductions
2. Technological revolution and social change
3. New products, new lifestyles, new jobs
4. The last lifestyle shift: the American Way of Life
5. The emergent lifestyle shift today
6. The interplay of markets and policy in lifestyle changes
7. A European Way of Life 
8. Conclusion


In the history of technological revolutions, there is a moment in each revolutionary surge of development when the wild period of Schumpeterian creative destruction subsides, and the future promised by the new technologies looks uncertain. We are at this juncture today – when something must occur to foster investment, employment and innovation. The saviour in the past has been demand. And the source of that demand? A change in lifestyle: an aspiration to a new ‘good life’, underpinned by the new technology and fostered by government policy.

In this chapter we look at why this is the case, and examine the lifestyle shifts that have occurred in previous technological revolutions. We examine the legacy of the mass consumption American Way of Life, which is still with us today, and argue that a new smart, green, way of living is slowly replacing it. And we conclude with the claim that Europe is in a unique position to adopt this way of life as its own, and play a formative role in creating a global golden age in the years to come.


Published 2002

'...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

‘For contents page, selected extracts and further details, click here’.

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