Transformations of Capitalism

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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.