This article seeks to reconnect to scholarship from the 1970s and 1980s that emphasized significant discontinuities in the development of the US economy. Drawing on a unique data set of prize-winning innovations between 1971 and 2006, we document three key changes in the US economy. The first is...

Since the 1980's, a particular definition of the United States and the global economy as being "capitalist" has become hegemonic. In this view, a capitalist economy is autonomous, coherent, and needs to be regulated by its own internal laws. This view is an illusion. The reality is that...