All theories that get widely adopted evolve over time, and get adapted to local circumstances. We have seen how capitalism in the US evolved very quickly after national foundation into public policy driven by corporatism and arguably oligopolistic state capture.

I've encountered some interesting modernized takes on capitalism, such as Natural Capitalism by Hawin and Lovins which focuses on how industrialization can be pursued within healthy ecological guardrails as well as Origin of Wealth by Beinhocker, who argues that economics should be understood within the framework of complex adaptive systems. We have still another month left of summer, so would love to hear of other recommendations of books written in the last 25 years that offer empirically based adaptations/advancements/enhancements/re-envisionings of capitalism for the modern world.