Excerpt
Excerpt
Modern Capitalism: Enthusiasts, Opponents, and Reformers. Jeffry Frieden, 2014, Book Chapter. "Since its emergence in the late 1700s, modern capitalism has been the focus of intense controversy. On the one hand, capitalist economic growth has been extraordinary. On the other hand, capitalism has been prone to crisis, and is also associated with a striking degree of inequality. Much of the political controversy is driven by conflict between those who have gained or stand to gain from the rapid economic development of capitalism, and those whosefortunes are threatened by capitalist advance and cyclical crises..." Link verified August 21, 2014