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Revolutionary Cycles and the History of Financial Bubbles w/Carlota Perez

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Published on Jul 20, 2012

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Welcome to Capital Account. Rising food prices, called the next crisis, threaten an economy already in a tough spot as the drought pushes agriculture commodity prices to record highs. Is this part of a bigger bust "cycle" of a natural historical trend of collapses tied to technology? A cycle where we need to hit a real rock bottom in order to move forward to a golden age? We talk to Carlota Perez, author of "Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages."

Plus Morgan Stanley and Citigroup are among Wall Street firms preparing to eliminate jobs as recent reports show revenues continuing to drop for a third straight year, according to Bloomberg. Is this a step in the right direction for the broader economy? Do we need a bigger shift away from finance and speculation for capital to move where it would be more productive in the US? We talk to author and professor, Carlota Perez.

When looking at booms and busts, economists do not often factor technology into their analysis. We look at the economy through the lens of major technological revolutions over the generations. Carlota Perez combines technological, financial, and political trends, and explains how they interplay throughout history.

Since its Friday, Lauren goes through viewer feedback, and a viewer even inspires Lauren to rap!

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