Capitalism, as Schumpeter said, is a machine of mass production, which inevitably also means production for the masses. Whatever one may think of this system: no other economic system addresses the task of supplying the population with ever more and constantly new consumer goods better. However, it appears that the increase in prosperity is accompanied by material inequality, fluctuating unemployment rates, and recurring economic crises. The article first addresses the fundamental features of modern capitalism. In a second step, it discusses the transformation of capitalism. Following that, the multifaceted criticism of this economic system is examined. This criticism has not only been social critique but also always cultural critique. The contribution concludes with a look at the future of this economic system.