A capital century

The ultimate victory of capitalism has come at a time of profound changes in the nature of capitalism itself. By historical standards, the richest countries are now almost inconceivably wealthy. In the US and several other advanced capitalist economies, more people now work in the service sector tha...

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Bibliographic Details
Published in:Harvard international review 1997-12, Vol.20 (1), p.83
Main Author: McCraw, Thomas K
Format: Article
Language:English
Subjects:
20th century
Advantages
Capitalism
Democracy
Economic growth
Economic impact
Income distribution
Online Access:Get full text
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Summary:The ultimate victory of capitalism has come at a time of profound changes in the nature of capitalism itself. By historical standards, the richest countries are now almost inconceivably wealthy. In the US and several other advanced capitalist economies, more people now work in the service sector than in all other sectors combined. Even outside the rich countries, recent gains made by several economies are nothing short of staggering. The experience of the 20th century has made clear capitalism's resiliency, flexibility, and unpredictability.
ISSN:0739-1854
2374-6564