Capitalism is the first economic system to enable rapid technological progress leading to higher living standards for the average person. The adoption of capitalism has radically changed work for everyone while increasing education, lifespans, and average income around the world. No other economic system has led to such dynamism, and capitalism now dominates the globe with no major competing systems. At the same time, capitalism has accelerated inequality, environmental degradation, and financial volatility. While risks to the planet grow, modern authoritarianism again raises the specter of conflict fueled by capitalist industrial production. As developing nations continue to transition into capitalism, today’s global capitalist economy offers immense potential as well as continued disruption. How can we make sense of this?Capitalism is part of the human story worthy of careful examination and, in this book, Alan M. Green uses economics to investigate capitalism. Foundations of Capitalism narrates how this economic system rose to dominance over a period of just 250 years. Exploring capitalism and its impacts in close detail, the author breaks down its components and highlights its polarizing competing systems: fascism and communism. The resulting book highlights the story of capitalism, analyzing how it differs from what we knew before and exploring how it can impact our future.
