Technological Revolutions and Financial Capital
by Carlota Perez · first published 2002
22mentions
11recommended by
16HN commenters
2013–2026first – last mentioned
69% recommend31% neutral
Why HN recommends it
Framework for how technological revolutions move through bubbles and golden ages, linking tech innovation to financial capital cycles; suits readers of innovation history, venture capital, and bubbles.
Summarised by Claude from recommending comments
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Anyone interested in this topic should pick up a copy of Carlota Perez's Technological Revolutions and Financial Capital. It speaks more specifically about the last 5 revolutions, beginning with the Industrial Revolution, and provides a framework for understanding the relationship between tech revolutions and finance. Just…
on “The Software Revolution” ↗I would recommend the book Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages [0] by scholar Carlotta Perez. She studies longer cycles though (~50 years) but the mechanism she describes seems pretty sound for the matter at hand. It goes…
on “End of Cycle?” ↗Ok well i'll recommend a few books that are more science and less popsci to start...but there are so many sub-genres underneath each that the list could go on. System-based econ books tend to be more complex/science than behavioral. I've recommended a couple favorites: technological revolutions & financial capital by carlota perez (a personal favorite), innovator's dilemma (touches on and tests f
on “Ask HN: What are the best Economics online courses?” ↗If you're interested in the history of Innovation, there is another great reference to add to your list: Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages, by Carlota Perez This is a bedside book for any Venture Capitalist interested in the various phases a major innovation goes through. Investment bubbles being…
on “Economics of Innovation: Detailed Reading List (2019)” ↗…companies got so big, or railways got so big, or steel companies got so big, or oil companies got so big: they had/have in-demand goods and services that solved problems people were/are having. See perhaps Technological Revolutions and Financial Capital by Perez: * https://en.wikipedia.org/wiki/Technological_Revolutions_and_... * https://www.e-elgar.com/shop/usd/technological-revolutions-a... * https://www.pwlcapital.com/investing-technological-revolutio...…
on “How Big Tech Got So Damn Big” ↗Props for mentioning Carlota Perez. I'm familiar with her Technological Revolutions and Financial Capital (which is quite good). Are there any other works you'd recommend? http://www.worldcat.org/title/technological-revolutions-and-... There've been a few HN submissions over the years: https://hn.algolia.com/?query=carlota%20perez&sort=byPopular...
on “TDD did not live up to expectations” ↗Two good books that intersect technology, hype, and economics/finance are Technological Revolutions and Financial Capital by Perez (going back to the 1700s): * https://en.wikipedia.org/wiki/Technological_Revolutions_and_... And The Rise and Fall of American Growth by Gordon: * https://en.wikipedia.org/wiki/The_Rise_and_Fall_of_American_...…
on “When is tech not hype? Tulips, toilets, trains and tabs” ↗Is AI a bubble? Probably. Does that make it meaningless? Not at all. Carlota Perez’s Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages (2003) is strikingly prescient--and worth revisiting [thread] * https://twitter.com/rubyscanlon/status/1958891869489836076#m Perez goes back to the technology…
on “A bubble that knows it's a bubble” ↗Yes well bubbles are a core part of the innovation process (new tech being useful doesn't imply a lack of bubbles), see e.g."Technological Revolutions and Financial Capital" by Carlota Perez https://en.wikipedia.org/wiki/Technological_Revolutions_and_...
on “AI Bubble 2027” ↗Technological Revolutions and Financial Capital, by Carlota Perez
on “Ask HN: What book changed your life in 2013?” ↗Carlota Perez - Technological Revolutions and Financial Capital.
on “Major Technological Changes Are Coming More Slowly Than They Once Did” ↗Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages Also, Walter Issacson is working on a new book on the history of the internet https://medium.com/medium-long/e50f65132b55
on “Ask PG/HN: Recommended reading on the history of technology” ↗Perez's Technological Revolutions and Financial Capital makes the point that when a technological revolution occurs, gains are frequently concentrated in a small number of locales that are the first to adopt the new technology and adapt their local industries…
on “As U.S. 'superstar' cities thrive, weaker ones get left behind” ↗…Robert Gordon's new book (The Rise and Fall of American Growth) or related discussion. Or somewhere in William Ophuls' Ecology and the Politics of Scarcity discussing technology, or Carlotta Perez's Technological Revolutions and Financial Capital. Light reading.…
on “Silicon Valley Has Not Saved Us from a Productivity Slowdown” ↗There's a tangent on this in Carlota Perez's Technological Revolutions and Financial Capital. Basically you get this phenomena of "two moneys" - rather than the economy acting as a monolithic entity, a new socioeconomic system grows up around the new fundamental technologies, and then goods/services/assets…
on “The Covid-19 pandemic is forcing a rethink in macroeconomics” ↗