Evolution of Capitalism

By Maria Alejandra Madi¹
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Affiliations: ¹ World Economics Association, State University of Campinas, Av. Anglica 1711, cj. 111, So Paulo, SP, Brazil
Source: Pluralist Readings in Economics: Key Concepts and Policy Tools for the 21st Century , pp 3-20
Publication Date: June 2017
Language: English

This chapter presents three critical appreciations about the capitalist system since the First Industrial Revolution in Britain until current globalization. Firstly, we consider Karl Polanyis contribution about the First Industrial Revolution's effects on economic and social life. Then, we address the contribution of Rudolf Hilferding whose studies on financial capital highlights the role of banks in the expansion of large corporations and capital markets in the early 1900s. Finally, we consider Eric Hobsbawm's ideas about contemporary globalization that intertwines economic and political challenges along with social and cultural outcomes.

Hardbound ISBN: 9781681085074

Ebook ISBN: 9781681085067

Book DOI: https://doi.org/10.2174/97816810850671170201