Understanding Capitalism, 3/e provides an introduction to economics with extensive attention to the global economy, inequality, the information revolution, the exercise of power and the historical evolution of economic institutions and individual preferences. Its 'three dimensional approach' focuses on competition in markets, command in firms, governments and international relations, and change as a permanent feature of a capitalist economy promoted by technical innovation and conflict over the distribution of income. Understanding Capitalism, 3/e, is designed for introductory undergraduate courses in economics and students of political economy throughout the social sciences.