Focuses on problems and challenges of capitalism after the Golden Age (1945-1973), examining why the age came to an end and how globalization and income inequalities have changed the nature of capitalism. Considers the prospects of capitalism, outlines the essential features of a capitalist system, and stresses that capitalism can take many forms. Explores the concept of institutions, paying particular attention to the relation between states and markets, and workers and employers.
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"On the whole, The Making of Economic Society in my view is the single best, short one-volume introduction to Western economic history in print. The chapters set out issues, problems, and various economic and social paradigms clearly. The language is graceful and always accessible to the general, nonspecialist reader. I am especially appreciative of its solid historical underpinnings and strong thematic format." — Jay P. Corrin, Boston University
"The strength of the text continues to be those things that make it a classic—Heilbroner's compelling grasp of the development of the world and its formative institutions, and his ability to present that story literally from the dawn of time into the millennium within barely 200 pages." — Susan Eisner, Ramapo College of New Jersey
"I first read the second edition of this book in a class at the University of Iceland and always liked it. When I started teaching Sociology of Business in 1994, I immediately adopted this text as my main text in the class." — Gunnar Valgeirsson, California State University, Fresno
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