1. A Time of Creative Destruction…
9/19/2018
9/19/2018
A Time of Creative Destruction…
Emerging markets dot.com and Internet mania financial casino
London funded global market infrastructure build-up (Argentina, Australia, USA)
Railway mania
Canal mania
Roaring twenties Autos, housing, radio, aviation, electricity
“Gilded Ages” Bubbles
Sustainable global knowledge-society golden age?
Post-war Golden Age
Belle Époque (Europe) “Progressive Era” (USA)
The Victorian Boom
Great British Leap
“Golden Ages” Booms
1771 Britain
1829 Britain
1875 Britain / USA Germany
1908 USA
1971 USA
1st
2nd
3rd
4th
5th
2000/7–?
Recessions
1890–95
Europe 1929–33
USA 1929–43
1848–50
1793–97
2008
-???
Source: Carlota Perez
Imagining the next stage of market society – beyond the industrial era…?
C.PEREZ - OME Foresight Forum Barcelona 2009
Perez Imperial C. June 2009 1

2. http://www.econ.washington.edu/news/millimansl.pdf – from Robert Lucas

3. Productivity Growth US
2003 Annual Report – Federal Reserve Bank of Dallas,

4. “Because productivity determines how well we live, Americans want to know how they're doing. … it's a Herculean task to calculate a productivity number that sums up the efforts of 130 million workers, employed in millions of establishments that produce more than $11 trillion in output. The Bureau of Labor Statistics does the best it can in producing quarterly estimates of output per hour, derived largely from surveys of businesses. BLS data show that U.S. productivity has grown steadily over the long haul, with output per hour rising an average 2.3 percent annually since 1870.”
Federal Reserve Bank of Dallas, 2003