The Evolution of Capitalism and the Impact of Financial Crises

This chapter explores the historical transition away from the gold standard, the role of the federal government in managing economy demand, and the impact of financial crises such as the 1929 collapse and the 2008 financial crisis. It delves into how capitalism has evolved post-financial crises, discussing the shift towards reliance on central bank money, the rise of inequality, and the challenges faced by traditional leftist beliefs in the new economic landscape.