Lars Oxelheim () and Trond Randøy
Lars Oxelheim: Research Institute of Industrial Economics (IFN), Postal: Box 55665, SE-102 15 Stockholm, Sweden, and School of Business and Law, University of Agder (UiA), Kristiansand, Norway,
Trond Randøy: School of Business and Law, Postal: University of Agder, Kristiansand, Norway
Abstract: Based on historical analogies, we emphasize a connection between financial crises and technological shifts where the shift calls for a structural economic transformation. We discuss how political pressures related to this structural transformation pave the way for the return of a new form of Mercantilism. This time it is the competition for high-tech jobs that drives politicians to be more nationalistic. Our conclusion is that the race for jobs in a period of technology shift, coupled with experimental efforts by central banks, will lead to the need for a post-covid 19 reorganization of international companies’ global logistics chain. The current pandemic will act as a catalyst to this very transformation.
24 pages, September 15, 2021
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