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According to Carlota Perez,"bubbles" are always bad.1.Yes, because they create tension between the paperand the real economy2. No, they create super rich innovators which isimportant for innovation3,Yes, because they create tension between the sizeand profile of effective demand and those of potentialsupplyO4. No, they also provide the conditions for fullexpansion of the new paradigmBefore there were cars, there were no gasoline stations andgasoline pumps. However, this became a major industry and asignature of the landscape of our modern times (think about howoften you see them...).From the perspective of the technology we call automotive, whichstep of the 6 consecutive stages of Arthur's "core mechanism" oftechnological evolution best describes this phenomena.O 3. Supporting technologies & arrangements 6. Social & economic adjustments 5. Becoming potential building-block 2. Replacing 1. Entering 4. Replacement of previous ancillary sectorsBrian Arthur argues that the numberof available technologies growsexponentially because:O1. Combinatorics are mathematicallyexponential 2. People want more and more diversetechnologies 3. Companies and Venture Capital marketsinvest ever more in R&D (Research &Development)Brian Arthur talks a lot about howtechnologies evolve by a process of"self-creation". By that he meansthatO1. new elements are constructed from ones thatalready exist, serving as building blocks for furtherelements2. human create technologies themselves, astechnologies cannot come out of nowhere3. technologies armed with artificial intelligence cancreate themselvesCarlota Perez claims that the "Ageof Information" is not only the latest