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Understanding Capitalism

Competition, Command, and Change

By: Samuel Bowles, Frank Roosevelt, Richard Edwards, Mehrene Larudee

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eText | 20 October 2017 | Edition Number 4

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Understanding Capitalism: Competition, Command, and Change, Fourth Edition, is an introduction to economics that explains how capitalism works, why it sometimes fails, and how it undergoes and brings about change. It discusses both the conventional economic model and the role of power in economic interactions. Understanding Capitalism analyzes how profit-seeking is a source of competition among firms, conflict, and change.