Mazzucato, Mariana - In: Review of Economic Dynamics 5 (2002) 2, pp. 318-345
The paper studies the co-evolution of industrial turbulence and financial volatility in the early phase of the life-cycle of an old high-tech industry and a new high-tech industry: the U.S. auto industry from 1899-1929 and the U.S. PC industry from 1974-2000. In both industries, the first three...