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This paper seeks to draw out the main themes of the debate on the current financial crisis as published in the special issue of critical perspectives on international business Vol. 5 Nos 1/2 (2009) and place them in the context of subsequent events. It also considers what conclusions can be drawn both for future policy and for the conduct of future academic research.

The paper overviews existing literature and summarises the main findings, focusing particularly on some topics deemed important and interesting for directing future research.

The paper finds that while the neoclassical approach to finance has evidently failed there is currently little consensus on how to replace it. This opens up the possibility of debate, new avenues for research and ultimately radical change.

The paper argues that more interactions between academic and finance practitioners are needed. Research in finance should be interdisciplinary or embed the insights from other disciplines and it should put behavioural finance under mainstream attention. The teaching of management and finance should also be more informed by issues of ethics, politics, social corporate responsibility, distribution of wealth and power and it should stimulate more critical and creative thinking.

The authors argue that capitalism works well only when it is adequately regulated and when there is a solid mechanism of balancing and counterbalancing of powers among the major players. The paper therefore calls for a “democratisation” of capitalism, to stop the trend of growing global inequality and reverse the existent plutocratic capitalism.

The paper outlines several viewpoints and interpretations of the financial crisis taken from the extant literature and hence offers a reflection on several dimensions that shaped the crisis.

The purpose of this extended editorial is to reflect on the journey of critical perspectives on international business over the past seven years and to look forward to future issues and potential concerns of the journal. In addition, the contents of the current issue are introduced.

Using the form of a conversation between the journal's co‐editors, the development of the journal and features of its content over the last seven years are discussed, and related to the ever changing external context. The current trends and concerns emerging in the field of international business are used to speculate on the future direction of the journal and its prospective content.

By tracing key points and features of the development of the journal over the past seven years, this paper identifies a growing need for critique of international business in all its various forms, and, especially from inter, multi and trans‐disciplinary perspectives.

This is the first attempt to evaluate critical perspectives on international business. As such, it offers a foundation from which to speculate on the future development of both the journal and the field of critical studies on international business.

This chapter investigates heritage craft entrepreneurship ‘in the wild’, creative start-ups emerging within a rural context in Norway and the UK. The research asks how entrepreneurs accomplish heritage craft entrepreneuring. To answer this question, we apply relational ontology, conceptualising entrepreneurship as the ongoing accomplishment of entrepreneurial activities, labelled entrepreneuring. We compare two rural heritage craft businesses: Running a spinnery located on a farm in a valley in Norway and a tweed-based textile creating organisation, co-located with other artisan entrepreneurs positioning in a community-led craft heritage building in the United Kingdom. Both entrepreneuring settings employ heritage craft in their businesses and engage in various forms of collaborations and placemaking in their creative entrepreneuring. This chapter unpacks three facets of artisan entrepreneuring through the lens of placemaking – connecting, organising, and co-developing in rural settings. We contribute to the entrepreneurship-as-practice and creative entrepreneurship literature and highlight the implications of placemaking for rural development.