2019/10/16 | “Bubbles, Golden Ages, and Tech Revolutions” | Carlota Perez

How might our society show value for the long term, over the short term? Could we think about taxation over time, asks @carlotaprzperez in an interview.

[35:00] Golden Ages are very clearly state-led. When you get a Golden Age, it’s because the state is shaping it. And that means taxing.

Finance has to be taxed properly.

We should have very high taxes for anything, any operation, anything that you earn within one day, with like the Fast Finance, and all of these things, 92% tax. That’s not unique. That happened in the 1950s. So, you get 92% tax for anything within one day, 80% tax for anything within one month, 50% to 60% tax for anything within one year, zero tax for 10 years.

So, you actually get finance to be interested in the long term, because without long term, we don’t have proper innovation.

Perez (2019), Exponential View

There’s some supporting information in a 2017 interview.

That is why now is the right historical moment for the government to come back on the scene, boldly, actively and wisely. In a turning point, government is not the problem: government is the solution.

This is what eventually happened from the 1940s. Government action and the Second World War led to mass production and mass consumption. Large numbers of people had access to relatively cheap products. Suburbanization made it profitable for firms to innovate for the family in the electric home with its insatiable hunger for new products. At the same time, the Cold War led to government investment in high tech. The reconstruction of Europe also stimulated economic growth and the demand for equipment and other goods.

Carlota Perez: post-war golden age

The welfare state enabled mass consumption. That’s one reason why high taxes were possible without resistance. The top rate was around 90% throughout the 50s. The money went out of tax-payers’ pockets, passed through the hands of government, and came back as solvent demand for consumer goods or procurement. Firms prospered because they were able to pursue an agreed common vision of what “the good society” looked like and what innovation was needed to make it happen. Everyone was going to have a home with cheap appliances. Credit was available that enabled people to buy houses and goods. It was an intelligent positive-sum game between government, business and society that led to the greatest economic boom in history.

Perez (2017) Forbes.com

Reference

Carola Perez, “From A Casino Economy To A New Golden Age: Carlota Pérez At Drucker Forum 2017”, Forbes, Nov. 25, 2017 at https://www.forbes.com/sites/stevedenning/2017/11/25/from-a-casino-economy-to-a-new-golden-age-carlota-perez-at-drucker-forum-2017

Carlota Perez, “Bubbles, Golden Ages, and Tech Revolutions”, Exponential View with Aseem Azhar, October 19, 2019 at https://hbr.org/podcast/2019/10/bubbles-golden-ages-and-tech-revolutions

About

David Ing blogs at coevolving.com , photoblogs at daviding.com , and microblogs at http://ingbrief.wordpress.com . A profile appears at , and an independent description is on .

Tagged with:
Posted in Talk Audio Download

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Translate
Beyond this media queue
This content is syndicated to Twitter. For professional perspectives, look to Coevolving Innovations; for a photoblog, look to Reflections, Distractions.
  • 2022/08 Moments August 2022
    Busy social calendar of summer family gatherings and local festivals, interspersed with otherwise invisible journal article writing.
  • 2022/07 Moments July 2022
    Enjoying summer with Toronto Jazz, then road trip to Iowa and Chicago.
  • 2022/06 Moments June 2022
    Social calendar for month was full with Toronto Biennal of Art, Luminato, Taste of Little Italy and Toronto Jazz Festival, plus family dim sum and dinners.
  • 2022/05 Moments May 2022
    Spring return from California visit, into Toronto coming back to life with city activities.
  • 2022/04 Moments April 2022
    Spring sees art exhibitions opening up around Toronto, then a trip to the Bay Area in Northern California to visit family and friends.
  • 2022/03 Moments March 2022
    Emergence from hibernation at home, as winter gives way to spring
  • The Aesthetics of Nature | Carlson and Berleant (2004)
    Towards a non-anthropocentric view of aesthetics, we explore the legacy of work in the aesthetics of nature. The collection of essays in The Aesthetics of Natural Environments (2004), edited by Allen Carlson and Arnold Berleant, illuminates some of the issues and debates on this perspective. In the Acknowledgements for the 2004 book is a trail […]
  • Genealogy of Systems Thinking | Debora Hammond | 2002
    In the history of science of systems thinking, Debora Hammond related the backgrounds and connections of the founder of the Society for General Systems Research, that is now the International Society for the Systems Sciences. Boulding (1956) plays a large role in framing two orientations towards “general systems theory”. Kenneth Boulding used to distinguish […]
  • Moral character in human systems (Geoffrey Vickers) | Adams, Catron, Cook (1995)
    Geoffrey Vickers saw human systems as different, with moral character distinguishing from natural and manmade systems. Gregory Bateson, in a more general view of systems, saw morality as entering in systems processes.
  • Protein remover tablets (RGP)
    As protein remover tablets for RGP contact lenses become more difficult to find, the hydrogen peroxide solutions are an easy-to-find alternative.
  • Book review of ZHANG, Zailin (2008) “Traditional Chinese Philosophy as the Philosophy of the Body” | Robin R. Wang | 2009
    In this review of a philosophical work written in Chinese, a comparison is made between Chinese philosophy centering on the body, in comparison to Western philosopy centered on the mind. (I found a reference to this book, tracing back from Keekok Lee (2017) Chapter 9, footnote 8.
  • Approche systémique
    The translation from English "systems thinking" to French "la pensée systémique" misses meaning. "Approche systémique" has lineage to "Conférences Macy", "General System Theory (Bertalanffy)" and "Gregory Bateson"
Contact
I welcome your e-mail. If you don't have my address, here's a contact page.
%d bloggers like this: