'Theories of Modern Capitalism' provides a succinct study of Marxist and non-Marxist theories of capitalism, its recent development, and the prospects of atransition to socialism. The study begins with a critical examination and comparison of four major theories of capitalism, in the works of Marx, Weber, Schumpeter and Hayek.

In this substantially revised and enlarged second edition of a classic text that has been used throughout the world in numerous translations, Tom Bottomore reconsiders élite theory in the light of more recent studies. He examines the role and significance of élites in relation to classes and class structure in both advanced industrial and developing countries, and expounds the criticism of élites and élitism that have been formulated by democratic and socialist thinkers and movements. In a new concluding chapter, Professor Bottomore considers the prospect, as humanity approaches the...