Today's Book: The Dark Fiber

Today's book is Technological Revolutions and Financial Capital, by Carlota Perez. Professor Wobble: chapter ten, the dot-com bubble, the frenzy of the fifth revolution; in 2001 only one to two percent of buried fiber was lit. Bitsy: one to two percent? Finance took command; Yahoo outweighed all of Kodak, and its star magazine set a record of 7,558 ad pages, then sold for half a million. The fruits come later, after the crash. Mort: she admits she can't say how long a bust lasts. Brought to you by chapter ten.

In chapter ten of Technological Revolutions and Financial Capital, Carlota Perez reads the dot-com crash as the frenzy of the fifth revolution: in 2001 only 1 to 2 percent of the fiber optic cable buried under Europe and the United States had been lit, Yahoo with hardly any physical assets had been worth more than all of Eastman Kodak, and a magazine that set a record of 7,558 ad pages in 2000 was sold in bankruptcy for half a million dollars in 2001; the fruits of a revolution arrive with a time-lag, after the crash, though the book admits it cannot say how long or deep the recession will be.

On the book: Technological Revolutions and Financial Capital by Carlota Perez

Starring

PipProfessor WobbleBitsyMort