“Before I read this book,” writes W. Brian Arthur of the Santa Fe Institute “I thought that the history of technology was – to borrow Churchill’s phrase – merely ‘one damned thing after another’. Not so. Carlota Perez shows us that historically technological revolutions arrive with remarkable regularity, and that economies react to them in predictable phases.”
Pérez takes a long-term horizon: several hundred years—much longer than either Christensen or Lepore. She draws on many disciplines: history, economics, finance, technology, sociology and management. Ironically, the breadth and depth of the book is one reason why it has been neglected by academics. It’s too bold and wide-ranging for any of them to accept it as “one of theirs”.
The book is guilty of other academic sins. It is clearly written and succinct—a mere 171 pages. And the succinctness is accompanied by precise details on the vast territory covered—the story of capitalism over the last 250 years.