comment 0

The Frenzy Phase

Frenzy is the later phase of the installation period. It is a time of new millionaires at one end and growing exclusion at the other. The paper economy decouples from the real economy… the regulatory framework [turns] impotent. It is also a time of speculation, corruption and unashamed love of wealth.

– Carlota Perez, Technological Revolutions and Financial Capital