Carlota Perezs Video Lecture to Estonian Ministry of Economy

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Carlota Perezs Video Lecture to Estonian
Ministry of Economy

• By Kurt Smetana
• 27289709

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Carlota Perez - consultant and researchers in the
field of techno-economic paradigm shifts
Lecture to Estonian official to promote a
deeper understanding of what is happening in the
global market, specifically in how its related to
technology
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Ages of Technological AdvanceTech Progress
Happens in Waves of Change5 Revolutions in
last 200 Years

• Age of Information Technology, Global
  Communications, began in 1971 (microprocessor)
• Age of Oil, Air Travel, Mass Production, began in
  1910
• Steel, Electricity, Trans-Continental
  Communication, 1875
• Railways, Coal, Steam Engine, 1830s
• Industrial Revolution, 1771

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• Age of Biotechnology, Nanotechnology, 15 Certain
  in 2020
• Each Wave has a different growth potential
• Each Wave has a big bang, which occurs, after
  the technology becomes massively used/produced
• First phase - eruption, Second Phase -
  infrastructure, Third Phase Synergy
• Opportunities flow through several industries,
  and both upstream and downstream

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• Most important characteristic that makes a tech.
  revolution, revolutionary, is its double nature
• Powerful cluster of new, dynamic technologies,
  that bring explosive growth and structural change
• Also brings generic technology (able to be used
  for almost anything) and organizational
  principals (pyramids to networks)
• Allows organization and control of all previous
  technologies

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WTO (Free Trade) does not consider the following

• Cultural Adaptation (familiarity)
• Setting up of institutional facilitators (rules
  and regulations, government)

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• Resistance from established firms/institutions
• Functional separation between financial capital
  and production capital
• Paradigm shift led by financial capital, which
  forms bubble, which bursts, leading to
  hyper-adaptation (common-sense)
• Production capital then controls propagation
• Huge surge is divided into two extremely
  different periods. Installation period vs.
  Deployment period

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Recommendation

• Be ahead of the game, and invest in up and coming
  developments.
• Paradigm shift policy very important. Smaller
  countries must locate policy targets in context
• Have a deep understanding of what is going on.