Technological Revolutions and Financial Capital

Why it’s on the list: Perez’s model of the technological surge — installation period, frenzy, crash, then a deployment golden age — fitted to five revolutions from the canals to information technology. The reference text for anyone arguing that a bubble is a stage rather than a mistake.

Where I saw it: Twice — as a bare Amazon link saved in the note, and again from @mastersinvest on X, December 12, 2025, pairing Ben Thompson’s line (“the definitive book on bubbles”) with Howard Marks’s Is It a Bubble? memo.

Connections

• Carlota Perez — author.
• Boom — Bubbles & The End of Stagnation — the read-library book working the same terrain.
• Technological Innovation · Capital Allocation · Historical Futurism — the three portfolio ideas this sits across.
• Venture Capital — where the installation-period argument gets applied.
• Bubble — the phenomenon, modelled as a recurring phase rather than an accident.