Rethinking Capitalism III

This course may provide a broad ranging discussion of many of the most pressing issues confronting modern market economies, adopting a pluralist perspective throughout. While technological advances and economic globalisation have contributed to economic growth over time, they have been accompanied in many countries by underemployment and insecure employment; higher levels of income and wealth inequality; financialisation and rising private indebtedness; higher concentrations of carbon dioxide and other greenhouse gases in the atmosphere; and a variety of other ecological problems. In recent years, secular stagnation, low investment rates and stalling productivity growth have been widespread. The course may consider innovative and often controversial approaches to addressing these issues, drawn from both neoclassical and heterodox economists. It is intended to be challenging to students who already possess an extensive background in economics, while at the same time remaining accessible to those who have not progressed beyond the first year Principles course. The approach taken is discursive and empirical, rather than being either mathematical or heavily theoretical and technical.