Technological Revolutions and the Role of Government in Unleashing Golden Ages
First Statement of Responsibility
/ Carlota Perez
SUMMARY OR ABSTRACT
Text of Note
The world is currently at a crucial turning point. As in each of the five previous technological revolutions, the major bubble collapse and the ensuing recession mark the swing of the pendulum, from finance-led to productionguided capitalism. The first decades of installation of a new set of enabling technologies and infrastructures create an enormous potential for innovation across all sectors, at the same time as they lead to a strong polarization between the richer rich and the poorer poor, among people, industries, countries and regions. Reversing those processes and successfully taking advantage of the new wealth creating potential cannot be achieved by markets alone but with the help of intelligent government action. The opportunities are there in the new technologies, in the modernization of traditional industries and in preparing for the next technological revolution. It is a question of well informed industrial policy rooted in a consensus vision, shared by government, business and society.