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Economic literature frequently treats zombie firms merely as systemic “noise” – that is, as disruptive, stochastic, and distorting factors that degrade the efficiency of market mechanisms and obstruct the optimal allocation of resources. According to this approach, these economically unviable, artificially sustained enterprises should be phased out or liquidated as swiftly as possible to allow capit

The global economy is currently navigating a ‘polycrisis’ – a complex configuration of intertwined challenges ranging from climate change and biodiversity loss to rising inequalities and technological disruptions. While the “return of industrial policy” has been widely discussed as a tool for technological sovereignty and green growth (Millot – Rawdanowicz, 2024, Evenett et al. 2024, Juhász et al. 2024, Gerarden et a