Financial Globalization and Innovation: Lessons of a Lost Decade for the OECD Economies

Pascal Petit ()

Chapter 22 in Macroeconomics, Finance and Money, 2010, pp 327-343 from Palgrave Macmillan

Abstract: Abstract When the thirty ‘golden years of capitalism’ came to an end with the crisis of the early 1970s (end of the gold exchange standard, important confrontation between capital and labour) the anti interventionist theses of the Hayekians received special attention. The publication of Milton and Rose Friedman’s book ‘Free to choose’ in 1980 is emblematic of this change of direction. This counter reform developed especially in countries like the US and the UK where the ‘golden years’ were those of slow growth in comparison with countries of continental Europe or with Japan which remained relatively more interventionist, each in their own way.

Keywords: Stock Market; Large Firm; Venture Capital; Open Innovation; Hedge Fund (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28558-3_22

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DOI: 10.1057/9780230285583_22

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