Modern capitalism can get traced back to the 18th century. It is characterized by innovation and love to protect personal wealth. To understand modern capitalism, we will analyse the varieties of capitalism, the family under capitalism, tensions with democracy as seen by Buchanan and Olson, contradictions of post-industrial society, capitalism and nationalism as seen by Ernest Gellner, Herbert Marcuse and the new left critique, and end of communism, new era of globalization.