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Erschienen in:
2015 | OriginalPaper | Buchkapitel
The Times
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The period following Coase’s 1937 “The Nature of the Firm” was one marked by the increasing ascendency of a reinvented American corporate model. The glamour of the Gilded Age was left in tatters following the excesses of the Roaring Twenties and the challenges of the Great Depression. World War II required a rebuilding of industrial capacity, and the 1950s saw dramatic growth and the creation of the modern military-industrial complex. In these heady days of post-World War II expansion, there was scant interest in Coase’s observations, and the institutional approach to economics and finance was eclipsed by the increasingly quantitative thrust of finance.