EXPLAINING THE 2008 FINANCIAL CRISIS AS AN ENTRANCE OF PARADIGM SHIFT IN IT REVOLUTION

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MIREMADI T.

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Journal: JOURNAL OF SCIENCE AND TECHNOLOGY POLICY Year:2008 | Volume:1 | Issue:2 Page(s): 87-101

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Title

EXPLAINING THE 2008 FINANCIAL CRISIS AS AN ENTRANCE OF PARADIGM SHIFT IN IT REVOLUTION

Author(s)

MIREMADI T. | Issue Writer Certificate

Keywords

TECHNO-ECONOMIC PARADIGMQ3

CONSECUTIVE TECHNOLOGICAL REVOLUTIONSQ3

LONG WAVES OF TECHNOLOGYQ3

WINDOWS OF OPPORTUNITYQ3

FINANCIAL CAPITALQ3

ECONOMIC BUBBLESQ3

Abstract

This paper attempts to determine the reasons and consequences of the 2008 Financial Crisis in the light of Schumpeter-Freeman-Perez Theory. It posits that this crisis is a sign of the resurfacing of the symptoms of the recession occurred in the aftermath of the so- called Dot Com bubble burst, which was postponed by liberalized credit policies. Considering the damage it has already done to the confidence in the economic rationale of incumbent policies, the paper argues that it is a strong sign for a stylized transition from the installation period to the diffusion period in long wave of the technological revolution of information and communication and the consequent shift in the TECHNO-ECONOMIC PARADIGM. The paper finally focuses on the technological evolutions in the developing counties and concludes that the wrong policies to deal with economic crisis in the center and appropriate measures and policies undertaken by some of late comer countries in the periphery could prolong abnormally the windows of opportunities to catch up with the industrial world. This analysis shows that how the theory of technological successive revolutions and techno-economic theoretical framework could help the technological policy making.

Cites

AN INVESTIGATION OF THE WAYS OF INCREASING PERSIAN LANGUAGE CAPACITY FOR BECOMING A GLOBAL SCIENTIFIC LANGUAGE

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APA: Copy

MIREMADI, T.. (2008). EXPLAINING THE 2008 FINANCIAL CRISIS AS AN ENTRANCE OF PARADIGM SHIFT IN IT REVOLUTION. JOURNAL OF SCIENCE AND TECHNOLOGY POLICY, 1(2), 87-101. SID. https://sid.ir/paper/133064/en

Vancouver: Copy

MIREMADI T.. EXPLAINING THE 2008 FINANCIAL CRISIS AS AN ENTRANCE OF PARADIGM SHIFT IN IT REVOLUTION. JOURNAL OF SCIENCE AND TECHNOLOGY POLICY[Internet]. 2008;1(2):87-101. Available from: https://sid.ir/paper/133064/en

IEEE: Copy

T. MIREMADI, “EXPLAINING THE 2008 FINANCIAL CRISIS AS AN ENTRANCE OF PARADIGM SHIFT IN IT REVOLUTION,” JOURNAL OF SCIENCE AND TECHNOLOGY POLICY, vol. 1, no. 2, pp. 87–101, 2008, [Online]. Available: https://sid.ir/paper/133064/en

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