Disciplines

The Institutions of Capitalism


Discipline: EAD6000-1

Concentration area: 12139

Number of Credits: 4

Course load:

Theoretical
(Per week)
Practice
(Per week)
Studies
(Per week)
DurationTotal
848360
Goals:
Despite enduring inequality within and between nations, since 1800 there have been massive global increases in the average standard of living and of human life expectancy. The aim of this course is to identify the key institutions that enabled this unprecedented global development. By understanding these institutions and their dynamics it may be possible to understand the conditions that can more egalitarian and inclusive outcomes possible.

Justification:
By the end of this course the students should have an appreciation of the basic institutions that comprise capitalism, of why they have enabled rapid economic growth and of the downside dynamics of economic inequality. Students should also have an appreciate of the role of the state and the possibilities for institutional reform.

Content:
1 chs 1-3 “Capitalism, law and the state”
2 chs 4-5 “Commodity exchange and markets”
3 ch 6 “Money and finance”
4 ch 7 “Meanings of capital”
5 ch 8 “Firms and corporations”
6 chs 9-10 “Labour and employment”
7 ch 12 “Capitalism, socialism and the state”
8 chs 13-14 “The evolution of global capitalism”

Avaliation methods:
• Essay/article about one of the topics presented

Notes:
• Lectures/seminar, with interactive discussions with participants.

Bibliography:
G. M. Hodgson, Conceptualizing Capitalism: Institutions, Evolution, Future (University of Chicago Press, 2015).

BIBLIOGRAFIA SUPLEMENTAR/ ADDITIONAL READING

Acemoglu, Daron and Robinson, James A. (2012) Why Nations Fail: The Origins of Power, Prosperity, and Poverty (New York: Random House and London: Profile).

McCloskey, Deirdre N. (2010) Bourgeois Dignity: Why Economics Can’t Explain the Modern World (Chicago: University of Chicago Press).

North, Douglass C., Wallis, John Joseph and Weingast, Barry R. (2009) Violence and Social Orders: A Conceptual Framework for Interpreting Recorded Human History (Cambridge and New York: Cambridge University Press).