A long-wave theory of technological and economic change suggests the financial malaise that began in 2007 may be about to end.
Yes, we could be if Carlota Perez’s theories are right. The problem now is that we need to enter the next phase - the deployment phase. And that requires the the new technology is being broadly deployed so that the economical effects on society can scale up.
In this article Perez argues about the necessities to enter the next phase:
Those two things — wealth creation and distribution — must be combined. The new technology giants, like Google, Facebook, and Apple, along with others developing robotics and similar technologies, will comprise the highest-productivity sectors. That’s understood. But they won’t lead us to a more decent society unless they encourage distribution. Otherwise, they are unacceptable monopolies.
Leader’s actions are needed:
Even now, the decision makers are still waiting. They don’t understand that, as in every previous technological revolution, the public sector has to lead the way back after the major bubble collapses. Only with intelligent government policies providing clear directions for profitability will markets work again. And only with effective policies to restore jobs and incomes will social unrest wane.
We need to look at history. Leaders would have to understand their role in this crucial moment, move to open a consensus-building process, and be determined to take bold measures. Their efforts, hopefully supported by business and society, could be the basis for the global golden age of the information economy.