I'm less sure myself, I dunno but it just low key feels like that "Capitalism leads to invitation" thing when actually business leaders don't want innovation they wanted maximum profit for minimum cost and more often than not that means cutting corners, not investing in things that won't yield instantaneous results and not wanting to change "What works" because change costs money. The exception to the above also isn't any better cos they don't generally care about useful invocations in the now but some vague concept of innovation for their space faring descendants, hence pouring billions into murdering pigs and monkeys with computer chips and then being unable to articulate what these things would even be able to do.
I mean, unless I misremember my recent reading the main thing that made people go from "Ooh neat novelty" to "Oh useful tool" to "Hot damn!" Was basically a water pump that took well over a century to reach the "Hot damn" level that required no horses or the like.
Pretty sure we are talking about two different things, which is part of the disagreement.
It sounds like you are talking about the creation of new ideas, advancement of technologies, and existence of entrepreneurs. (And for such, I agree with you.)
But what I'm referring to is the shift in culture and the commonality.
In most places, in OTL these two things moved together, this is not going to necessarily be the case in an ATL scenario. And I see banking as only one attributing factor, but a linchpin factor.
(Believe it or not, I actually live in an area of the USA were these lagged significantly behind the rest of the country and if you know were to look you can still see it. For example family farms are all we have here, no corporate farms, and we still have a harvest break end of September beginning of October.
And while this is more of a theory, the seem like during the USA's industrial period the Anglophone banks didn't like working with the predominantly Francophone Catholic inhabitants, and this stayed until the introduction of credit unions.
I did try to do a paper on this back in college but there wasn't enough sources to make a conclusion either way. So theory it remains.)