In doing so, he sheds light on the feedback loop between theory and practice: Throughout capitalism’s tumultuous existence, economics has both responded to and produced policy. The 18th-century ...

But then capitalism has always been a protean force. In the 18th century, merchant capitalism yielded to industrial capitalism; in the postwar era, Keynesianism yielded to neoliberalism.

Capitalism and economic globalization have no shortage ... His narrative begins with attacks on the British East India Company’s monopoly power in the eighteenth century and runs through the ...

The essential feature of capitalism is the motive to make a profit. As Adam Smith, the 18th century philosopher and father of modern economics, said: “It is not from the benevolence of the butcher, ...

“Capitalism” is one such example ... of what are now usually called “discretionary goods” or, in the 18th century, was called “luxury”—is the key to understanding measurable forms ...

Pioneers of Capitalism: The Netherlands 1000–1800 ... Later stock markets in 18th century London and 19th century New York showed many parallels to their ancestor in 17th century Amsterdam.

To Thomas Carlyle, it was “one of the shabbiest gospels ever preached”. Adam Smith was an early fan, but was still suspicious of those who practised it. Rosa Luxemburg thought it fuelled ...

From the 16th to 18th centuries ... His ideas helped develop the laissez-faire capitalism that defined much of the 19th century. Today, to ensure equitable access to resources and address global ...