The Rise of a “Small Economic Power” / The historical development of the Swiss financial center

This lecture explores the historical development of the Swiss financial center, from the early industrial revolution to the rise of multinational companies like Nestlé and Novartis. It delves into the diversified economic structure, export orientation, and labor market of Switzerland, highlighting its transition from a low/middle-income country to one of the wealthiest nations. The lecture also discusses the cultural, political, and institutional factors contributing to Switzerland's economic success, along with the significant role played by the Swiss banking sector. It covers key events such as the establishment of the Swiss National Bank, the impact of World Wars, and the emergence of Switzerland as a global financial hub.