There’s a lively debate about how technological revolutions proceed. How many have there have been? When did they start and stop? How do they relate to growth in living standards? Should they be conceived narrowly, as purely technological, or broadly, as an interdependent set of developments comprising technology, institutions, social norms?

This, from Carlota Perez, is good:

“A great surge of development is … the process by which a technological revolution and its paradigm propagate across the economy, leading to structural changes in production, distribution, communication and consumption as well as to profound and qualitative changes in society. The process evolves from small beginnings, in restricted sectors and geographic regions, and ends up encompassing the bulk of activities in the core country or countries and diffusing out towards further and further peripheries, depending on the capacity of the transport and communications infrastructures”. Perez 2002, p. 15

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