From Adam Smith and the Industrial Revolution to Wall Street and multinational corporations, capitalism has long been one of the world's leading economic systems. This work traces the evolution of capitalism from its roots in medieval Europe's rigid economy, through the laissez-faire abuses of the 19th century, to its contemporary form as shaped by competition with socialism. Covering the period from 1450 to 1998, Larry Allen examines significant laws, government policies, treaties, events, concepts, and people. Entries include the British General Strike of 1926, the Corn Laws, Factory Acts, the Great Depression, International Monetary Fund, the Labour Party, the Privatization Revolution, Refuedalization, and the Welfare State. Written clearly for the general reader, each entry gives historical facts and social context, not only defining the term itself, but clarifying and describing how it influenced and shaped the economic, political, and social fabric.
