Since
the financial crisis of 2008, the social consequences, moral status, and even
long-term viability of capitalism
have come under renewed scrutiny. Does it foster economic growth and protect
individual freedom, as its proponents claim? Or is it a destructive system out
of control, as its detractors argue?
Should the market be given even freer rein? Or should capitalism be reformed and
restricted? Or should it be abolished
and replaced altogether? And, if so, what would replace it?
In this module, we will explore the arguments of both defenders and critics of
capitalism. We will study a range of texts, both historical (such as Adam
Smith, G.W.F. Hegel, Karl Marx, Friedrich von Hayek, Milton Friedman, and Karl
Polanyi) and contemporary (such as Nancy Fraser, Liza Herzog, Debra Satz,
Elizabeth Anderson, and Wolfgang Streeck).
- Module Supervisor: Fabian Freyenhagen
- Module Supervisor: Timo Juetten