PY429-5-AU-CO:
Capitalism and its Critics
2020/21
Philosophy
Colchester Campus
Autumn
Undergraduate: Level 5
Current
Thursday 08 October 2020
Friday 18 December 2020
15
09 July 2020
Requisites for this module
(none)
(none)
(none)
(none)
(none)
BA VV20 Philosophy with Business Management,
BA VV21 Philosophy with Business Management (Including Foundation Year),
BA VV22 Philosophy with Business Management (Including Placement Year),
BA VV23 Philosophy with Business Management (Including Year Abroad)
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).
The aims of the module are:
1. to develop a familiarity with some of the major figures and themes discussed in the module;
2. to undertake a close assessment of selected classics on capitalism or its critique;
3. to gain a precise understanding of at least one major theme or problem covered in the module;
5. to develop the ability to critically analyse writings in social and political philosophy, and to produce argumentatively precise and robust critical analysis.
By the end of the module students should be able to:
• explain the main theories, models and concepts applied in the analysis and critique of capitalism;
• summarise normative debates about capitalism, and its dominant contemporary form, neo-liberalism;
• explain and critically assess the arguments made by advocates and critics of capitalism.
By the end of the module, students should also have acquired a set of transferable skills, and in particular be able to:
• define the task in which they are engaged and exclude what is irrelevant;
• seek and organise the most relevant discussions and sources of information;
• process a large volume of diverse and sometimes conflicting arguments;
• compare and evaluate different arguments and assess the limitations of their own position
or procedure;
• write and present verbally a succinct and precise account of positions, arguments,
and their presuppositions and implications;
• be sensitive to the positions of others and communicate their own views in ways that are
accessible to them;
• think 'laterally' and creatively - see interesting connections and possibilities and present
these clearly rather than as vague hunches;
• maintain intellectual flexibility and revise their own position if shown wrong;
• think critically and constructively.
Incoming Study Abroad students must have already taken an introductory module in Philosophy or Political Theory at their home institution.
Each week, there will be a number of pre-recorded short lecture videos, a one-hour seminar with the whole group, and separate one-hour classes in smaller groups in which selected themes will be discussed in more depth. All teaching events will be accessible to students on and off campus either face-to-face or remotely through online teaching. Week 8 is Reading Week.
- Anderson, Elizabeth. (1990-10) 'The Ethical Limitations of the Market', in Economics and Philosophy. vol. 6 (2) , pp.179-205
- Heath, Joseph. (2014-01-01) Efficiency as the Implicit Morality of the Market: Oxford University Press, USA., pp.173-204
- Marx, Karl. (2000) 'Selections from Capital (Volume 1)', in Selected writings, Oxford: Oxford University Press., pp.482-513
- Marx, Karl. (2000) Economic and Philosophical Manuscripts (1843/44), Oxford: Oxford University Press., pp.85-104
- Smith, Adam. (2008) An inquiry into the nature and causes of the wealth of nations: a selected edition, Oxford: Oxford University Press. vol. Oxford world's classics
- Friedman, Milton. (2002) Capitalism and Freedom, Chicago, IL: The University of Chicago Press.
- de Bruin, Boudewijn. (2019-10-4) 'Epistemic Injustice in Finance', in Topoi.
- Marx, Karl. (2000) 'On James Mill (1843)', in Karl Marx: Selected Writings, Oxford: Oxford University Press., pp.124-133
- Hegel, Georg Wilhelm Fredrich. (1991) Elements of the Philosophy of Right, Cambridge: Cambridge University Press., pp.227-239
- F. A. Hayek. (1945) 'The Use of Knowledge in Society', in The American Economic Review: American Economic Association. vol. 35 (4) , pp.519-
- Fraser, Nancy. (2014) Behind Marx’s Hidden Abode, New Left Review 76 (2014), pp. 55-72.
The above list is indicative of the essential reading for the course. The library makes provision for all reading list items, with digital provision where possible, and these resources are shared between students. Further reading can be obtained from this module's reading list.
Assessment items, weightings and deadlines
| Coursework / exam |
Description |
Deadline |
Coursework weighting |
| Coursework |
Quizzes TOTAL (2 of 3) |
|
25% |
| Coursework |
Weekly Quiz 1 marks |
|
0% |
| Coursework |
Weekly Quiz 2 marks |
|
0% |
| Coursework |
Weekly Quiz 3 marks |
|
0% |
| Coursework |
Essay plan |
|
25% |
| Coursework |
Essay (2000 words) |
|
50% |
Exam format definitions
- Remote, open book: Your exam will take place remotely via an online learning platform. You may refer to any physical or electronic materials during the exam.
- In-person, open book: Your exam will take place on campus under invigilation. You may refer to any physical materials such as paper study notes or a textbook during the exam. Electronic devices may not be used in the exam.
- In-person, open book (restricted): The exam will take place on campus under invigilation. You may refer only to specific physical materials such as a named textbook during the exam. Permitted materials will be specified by your department. Electronic devices may not be used in the exam.
- In-person, closed book: The exam will take place on campus under invigilation. You may not refer to any physical materials or electronic devices during the exam. There may be times when a paper dictionary,
for example, may be permitted in an otherwise closed book exam. Any exceptions will be specified by your department.
Your department will provide further guidance before your exams.
Overall assessment
Reassessment
Module supervisor and teaching staff
Prof Timo Juetten, email: tjuetten@essex.ac.uk.
Professor Timo Juetten
spahinfo@essex.ac.uk
Yes
Yes
No
Dr Thomas Joseph Stern
University College London
Senior Lecturer
Available via Moodle
Of 1418 hours, 0 (0%) hours available to students:
1418 hours not recorded due to service coverage or fault;
0 hours not recorded due to opt-out by lecturer(s).
Philosophy
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