The Case of the Recurring Bubble

Inspector Hale opens Technological Revolutions and Financial Capital, by Carlota Perez, 2002: five revolutions since 1771, each with a bubble. The Bubble: canal mania, railway mania, Internet bubble, all mine; in the frenzy, finance takes command. Wren: railways, warnings in 1845, panic by 1847, boom from 1850. Nightjar: crash, new rules, then golden age. Wren: for anyone asking where we are.

Technological Revolutions and Financial Capital, by Carlota Perez, 2002, argues that growth since 1771 has come in five surges, one per technological revolution, each about half a century long; in each, finance pours into the new infrastructure and inflates a bubble that bears its name, canal mania, railway mania, the Internet bubble, finance takes command in the frenzy, and only after the crash forces new rules does the golden age arrive, as railway warnings in 1845 and the panic of 1847 gave way to the Victorian boom from 1850.

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

Starring

Inspector HaleWrenThe BubbleNightjar