Beyond the Technological Revolution

Tag: COVID-19

The (possible) positive consequences of the economic collapse precipitated by the pandemic
By Carlota Perez

The collapse of the economy was going to happen anyway. The irrational bull market in the NYSE was completely decoupled from the real economy. Besides, world debt had reached equally unmanageable heights. However, I think it’s good that, instead of a pure financial crash that makes governments rush to save the banks, we have a wide‐ranging economic collapse that forces governments to think more broadly about how to save businesses of all sorts and the vulnerable people without a proper safety net...