Historian Appleby traces capitalism (a system based on individual investments in the production of marketable goods) from early industrialization to the present global economy. She explores the benchmarks in capitalism's ascent, looking at how this system transformed politics while churning up practices, thoughts, values and ideals that had long prevailed within the cocoon of custom. It changed the way people thought and planned, and the author shows how different societies respond to its challenges up to the twenty-first century and the world recession of 2008–09. She explains that the 2008 financial crisis was caused by the era of deregulation from the late 1970s to 1999, while vast sums of money circulated through global markets and the growth in financial assets outpaced real economic activity. Appleby concludes that since capitalism is a set of practices and institutions that permits billions of people to pursue their interests in the marketplace, it is highly likely that panics and bubbles will occur again. This is an excellent book.
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