Preindustrial businesses: the time of the merchant -- The many paths to industrialization -- British and German businesses during industrialization -- Big and small businesses in industrializing America -- Japanese and Chinese businesses during industrialization -- American, British, and German...

"Karl Marx hypothesized that there is a long-term tendency for the profit rate to fall in capitalist economies. Immanuel Wallerstein hypothesized that capitalist development tends to drive up labor cost, material cost, and taxation cost. This book evaluates Marx's and Wallerstein's hypotheses by...