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Professor Carlota Perez takes the long view of economics..the very long view. Her particular field of interest is long cycles stretching out 50 years or more, and often starting with the shock of big technology changes. She teaches at the London School of Economics, the University of Sussex, Tallinn University of Technology and University College London, and she has written a much-praised book: “Technological Revolutions and Financial Capital: the Dynamics of Bubbles and Golden Ages”. In this first podcast, she tells Peter Day about the economic cycle we are now in the middle of … and how it’s similar to (and different from) previous big cycles which are not really understood by business people, politicians, and even economists themselves.
I agree with Carlota’s research that emerged on her much-praised book: “Technological Revolutions and Financial Capital: the Dynamics of Bubbles and Golden Ages”. However, as there are technological revolutions, there are also information revolutions.
While there is a lot I have learned in the past year, this is my comment to Part I. It is based on my post for #GPDF16 “Is Drucker’s Management Challenges for the Systemic Civilization on the opposite side force field of academic privilege? ( http://bit.ly/TWOG131 ),” where I said, for example;
We identified the problem with “very dark side” (good – for a few) capitalism is the ‘Groupthink” of the industrial civilization of independent countries, which generated what were called “wicked problems.” Those problems were identified at least in the early 1970s. From then on those problems, which we now identify as anti-systemic (not systemic which is in favor of systems – more below) problems have been escalating as the fourth information revolution (that Peter Drucker understood had a precedent in the third – printing press – information revolution) keeps emerging, but has not been allowed to help create the systemic civilization.