whom she closely collaborated. Her articles, from the early 1980s, have contributed to the present understanding of the relationship between basic innovations, technical and institutional change, and economic development. Her 2002 book Technological Revolutions and Financial Capital has had a very positive response from academics as well as from the financial and the technology-based business communities. It has been translated into Chinese, Korean, Russian and Spanish. The book has contributed to a Schumpeterian understanding of the link between innovation and financial dynamics. In it Perez, speaking from 2002, lays out a history of five technological revolutions that follow a similar pattern of bang, bust and, hopefully, renewal. Since the 2010s Perez has been studying the historical role of the state in previous revolutions bringing about such golden ages as the Victorian boom, the Belle Epoque and the Post War prosperity. She has identified the importance of giving directionality to the technological potential installed in the early decades of each revolution and of the role of changing lifestyles in creating new employment. She now proposes that the direction should be smart, green, fair and global growth to unleash a global sustainable golden age of the information revolution In 2000 Perez co-founded The Other Canon, a center and network for heterodox economics research, with - amongst others - main founder and executive chairman Erik Reinert. Having collaborated with Mariana Mazzucato for the past decade, she was the founding Honorary Professor at Mazzucato's new Institute for Innovation and Public Purpose at UCL, England, where she does research and gives lectures in the Master's of Public Administration programmes. Techno-economic paradigm shifts In her 2002 book, Technological Revolutions and Financial Capital Carlota Perez explains her theory about techno-economic paradigm shifts that revolve around technology revolution, technical innovation, economy and finance, and society. Techno-economic paradigm shifts are brought upon by the technological revolution. Perez defines technological revolution as a powerful and highly visible cluster of new and dynamic technologies, products, and industries capable of bringing about an upheaval in the whole fabric of the economy and propelling a long-term upsurge of development. Every time a technological revolution takes place a massive replacement of one set of technologies by another also occurs. It can be a substitution through modernizations of existing equipment, processes, and ways of operation. Every technological revolution included changes in people, in the way organizations were run and what new skills were needed, each