Business and Global Capitalism: Continuities and Change

Abstract

It is common for historians to focus their attention on turning points in the past. The risk with this is that it overstates how dramatic change was and the extent of stasis and stability in between those turning points, at its most extreme form in notions of punctuated equilibriums. We need to remember the importance of continuities across those turning points and transitions in order to understand the roots of change and have a more nuanced picture of the nature of change. This is as valid for the relationship between firms, governments, and global governance frameworks as it is for any other historical subject.