Technological Revolutions

In Technological Revolutions and Financial Capital Carlota Perez provides a neo- Schumpeterian analysis of economic growth and development. Her work emphasizes both the endogenous innovative capacity of capitalist economies as well as the role played by financial markets and policy makers in stimulating the diffusion and generalization of new technological infrastructures. Summarize Perez’s core argument regarding technological revolutions (successive surges of economic development) as well as her analysis of financial markets and the institutional dimensions (policy) of technological revolutions (10). Next, drawing on Keynes and Minsky identify two problems or limitations with Perez’s argument. Explain your arguments/conclusions in detail .

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