During week 7 we have analyzed the evolution of capitalism. Please (1) define capitalism using arguments analyzed in class from the two authors. (2) Provide a brief but elaborated explanation of the 3 ages of capitalism (Kaletsky) making sure you stress and explain the reasons that led to the demise and rebirth of each new phase of capitalism. (3) explain what Gilpin means by “The Second Great Age of Capitalism.” Make sure you define the term/idea and that you explain the meaning of economic liberalism, economic globalization, and global shifts in economic power – reasons and effects.
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