Any reader of Carlota Perez' work who has been following the global financial meltdown beginning to unfold in the Fall of 2008 must pinch herself as ‘it’ is indeed happening again. ‘It’ is not only a financial crisis of enormous proportions, but in fact, what Perez calls a turning point in the middle of the diffusion of a techno-economic paradigm. Such turning points have taken place rather regularly since the Industrial Revolution with roughly half-century intervals between them, and they consists essentially of two aspects: huge financial meltdown (think of the canal panic of 1793, the railway panic of 1847, or the great depression following 1929 stock market crash) followed by an institutional renewal of historic dimensions (think of the Victorian boom preceded by the repeal of the Corn Laws and introducing legislation to improve factory conditions and urban sanitation, professionalization of the civil service, etc., or the welfare state reforms and the Keynesian policies and institutions facilitating the post-World War II Golden Age). Accordingly, the Perez framework predicted that the turning point for the current ICT-led techno-economic paradigm should have taken place during the first years of twenty-first century. What started as a bursting of the dot-com bubble in 2000 ended in 2008 as a full-blown global financial crisis. This is, then, the turning point and thus, we are confronting the need for sweeping institutional changes to bring forth a golden age based on the global spread of the growth potential of the current paradigm based on information technology.