In her book ‘Technical revolutions and Financial Capital’ Ms. Carlota Perez traces five boom-and bust cycles of technological innovations:
- industrial revolution
- steam and railways
- steel, electricity and heavy engineering
- oil, cars and mass production
- information technology and telecommunications
Each cycle has seen 3 phases:
- innovation, fuelled by hot money
- financial bust
- extended period in which the technology is deployed properly
Quoted in: Ben Edwards: ‘A world of work – a survey of outsourcing’, the Economist November 13th 2004.
Mijn taxatie is dat we na de internethype en crash nu in fase 3 van de ICT revolutie zijn beland.
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