Article: Creating Modern Capitalism: How Entrepreneurs, Companies, and Countries Triumphed in Three Industrial Revolutions.(Review)

Edited by Thomas K. McCraw. Cambridge, Mass.: Harvard University Press, 1997. Pp. 711, xii.

The title conveys in precise and dramatic terms the aim of this book: to analyze the various forms of modern capitalism as they have evolved over time in four major industrial nations. And the book accomplishes this aim, albeit by compiling in one convenient place a series of lessons already familiar to most business and economic historians, rather than by breaking new ground. The book's editor, Thomas K. McCraw, argues for this historical framework as the only way to address this large and important topic, and he uses as rationale Schumpeter's own insistence on history as ...

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