Capitalism and socialism: a history of industrial growth

Capitalism and Socialism is a readable, lucid and enjoyable introduction to the history of capitalism and socialism in the industrialized world.

In the eighteenth century capitalism grew and flourished, and ultimately created the first world-wide civilization. Lord Vaizey investigates the reasons for the transforma tion of Europe and North America after 1700. He shows how when technology became self-perpetuating, sustained economic and industrial growth was achieved for the first time, and that thus emerged the essential features of capitalism.

The history of the modern industrial world inevitably also encompasses the history of those political ideologies which have developed within it. The appearance of socialism, in particular, has raised the question, is there a desirable, and indeed possible, alternative to capitalism? The author's previous, highly successful books, Capitalism and Social Democracy, discussed the two alternatives. Here, much of the material from those books has been combined, to great effect: the author traces the history of the theories and philosophies on which the different ideologies are based; considers and compares the various political options which have been open to past governments and which are open to governments in the modern world; and shows that the socialist extreme,