Large Firms and Institutional Change : Oxford University Press : 9780199252053 : 019925205X : 25 Jul 2002 : Between 1980 and 1985, the French economy and industry faced a dramatic crisis; in the ten years that followed, it witnessed a remarkable revival. How did the French economy make this transition? While the state is still an important economic agent in France, and the market certainly has become more central in the organization of the French economy, both state- and market-centered perspectives fail to understand critical elements of this adjustment. Building on the new Varieties of Capitalism approach in political economy which puts firms at the center of the analysis, this book argues that the post-war, state-led system changed into a system organized by and around the large firms. Large firms have always been central in the French post-war economic development model. In the past, however, they adapted to patterns set by the central state. By exploiting the possibilities in gov