Question: Question 1 In the 1930s Joseph Schumpeter noted that technological innovations were not evenly distributed over time or across industries but appear in periodic clusters.

Question 1 In the 1930s Joseph Schumpeter noted

Question 1 In the 1930s Joseph Schumpeter noted that technological innovations were not evenly distributed over time or across industries but appear in periodic clusters. According to one analysis, since the Industrial Revolution it has been possible to identify historical waves of intense technological change (technological revolutions') characterized by rapid economic growth opportunities and radical social changes (Freeman and Perez 1988). Think of the technological changes that had characterized the 1st Industrial Revolution, 2nd Industrial Revolution, 3rd Industrial Revolution and the current 4th Industrial Revolution and articulate these historical waves of technological revolutions with specific emphasis on the progression the four industrial revolutions and their major uniqueness and features. (15)

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