Professor Rae uses the case of Polaroid cameras to highlight key features of the capitalist system. Polaroid's business model, corporate culture, and firm trajectory are discussed. Important firm decisions are analyzed, including product offerings and mergers. Professor Rae explores factors that led to Polaroid's demise, including the company's relentless focus on scientific innovation at the expense of market research and product development. Polaroid was unable to keep up with market changes, such as the advent of the one-hour photo processing and the revolution in digital photography.