A diverse, complex, and stable, yet volatile system, capitalism has undergone fundamental transformations over the past century. Entrepreneurial capitalism has become increasingly managerial and corporate in nature. The influence of laissez-faire policies waned for decades, only to experience a recent renaissance. No longer dominated by industrial production, capitalist economies are now geared toward supplying services, and toward integrating the working class into capitalist society. Individual companies have given rise to complex relationships between state, economy, and multinational corporations.
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HARRY F. DAHMS is Associate Professor and Director of Graduate Studies at University of Tennessee, where he teaches courses in social theory and economic sociology. He received his Ph.D. in sociology at the New School for Social Research in New York in 1993 and his M.A. in sociology, economics and statistics at the University of Konstanz, Germany, in 1986. He has written numerous articles on capitalism and social theory. He is currently completing a book on Schumpeter's theory of entrepreneurship.
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