Hope Theory, and Crisis of Capitalism Econ 80A
Political Economy of Capitalism Econ 189
David E. Kaun Spring 2011 UCSC
REQUIRED TEXTS (all available at Bay Tree Bookstore)
Hirschman, A
journal articles
Gray, John
Gray, John
The Rhetoric of Reaction
The Passions and the Interests
ECON 80/189 READER
Two Faces of Liberalism
False Dawn
REQUIRED FILM
Idiocracy (show time(s) to be announced)
VERY OPTIONAL!! But!!!
Kaun, David Evan
CLASS MEETINGS
RU$$IA; a novel (available from author)
References other than the above in reader
3
Introduction/ Classical Economics
Halstead and Smith
3
Smith quiz; Basic Marx--The Labor Process--The Accumulation Process
Marx and Cassidy
3
Marx quiz; Keynsian Economics, Keynes and Kaun
1
Keynes quiz; brief comments on Hirschmans The Passions and the Interests,
Intro to second half of course
1
Classical Economics, Post WW II, Hayek, The Road to
1
Marx Today, O'Connor, "Fiscal Crisis of the State," intro in reader
3
The Liberal Perspective (I) Lindblom, Politics and Markets
The L P (II)
The L P (III) Polanyi and Kaun
1
Adam Smith in the 1990's, Olson, The Rise and Decline
of Nations [nothing in reader]
1
Conservatives and Liberals, Hirschman, The Rhetoric of Reaction;
3
Hayek through Grey Quiz; on entire second half material:
Serfdom and Roche
Hirschman and Kaun
Two-faced Liberals and Globalization (John Gray) and the Return of Keynes
Class web site at http://econ.ucsc.edu/~nuclear/, Contact via e-mail at [e-mail]; office
hours TBA
WRITTEN WORK
Midterm exams Econ 189 and 80A --three short in-class exams will cover the basic
theoretical concepts in the works of Smith, Marx, and Keynes, as provided in the readings and
lecture. These exams will be given at the start of class (following completion of each
theorist.). The fourth exam will focus only on second half of the course. There will be no final
exam. THIS LAST STATEMENT IS IN ERROR...AS ANNOUNCED IN CLASS SEVERAL
TIMES, AND AS INDICATED IN THE SYLLABUS IN THE CLASS READER, THE FINAL
EXAM WILL BE ON JUNE 9, ANT 12 PM.
info on the Tony Judt paper also in the class reader.
PLEASE NOTE: THE QUALITY OF WRITING IS IMPORTANT: SO
MUCH SO THAT REASONABLE QUALITY WRITING IS A NECESSARY
CONDITION TO PASSING THE CLASS. To that end, you may write a short
(2 page) essay discussing the article by Orwell, "Politics and the English
Language, is which in the class reader. This paper is due no later than the third
class meeting, and will give you an indication of writing expectations for the
classno need to do this paper if youve done it before, or if you are very
confident of your writing ability.its still a fine article. Well worth reading..
**********************************************************************
SUPPLEMENTAL HONORS PAPER. Those interested in doing this paper should take some
relevant contemporary issue, from the reader, (or film or fiction), and provide a discussion
based on alternative paradigms as the might be useful in understanding the particular issue
or event under consideration. A simple summary of the issues or events will not be adequate.
The paper should be at least 4-6 typed pages, but may be longer if you wish, and the topic should
be discussed with Kaun in advance. These papers will be read only for students doing A level
work, a quality paper would be considered as honors work for the course.
ADDITIONAL READING POSSIBILITIES FOR ECON 189- on reserve at McHenry.
Marxist
James O'Connor, The Fiscal Crisis of the State
Moderate Liberal
Paul Krugma, The Age of Diminished Expectations, and Peddling Prosperity
More Liberal
Charles Lindblom, Politics and Markets,
Polyani, Karl,The Great Transformation,
Stiglitz, Joseph, Globalization and its Discontents,
Wilkinson, Richard, Unhealthy Societies
Gray, John, Two Faces of Liberalism
Gray, John, False Dawn
Conservative
Milton Friedman, Capitalism and Freedom
Hayek, F.A. The Road to Serfdom
Olson, M. The Rise and Decline of Nations
Libertarian
Kelley, David, A Life of One's Own
The Perfect Complementary Pair
Kaun, RU$$IA and Orwell, Animal Farm
Class Notes as Follows
Adam SmithThe Wealth of Nations
1
Karl MarxIntroduction to Capital
The Creation of Surplus Value
The Accumulation Process
17
John Maynard KeynesThe General Theory
Economic Possibilities
22
26i
Albert HirschmanThe Passions and the Interests
[Note: detailed notes, but may not be covered
in class lecture.]
HayekThe Road To Serfdom
Hayek on Perfect Competition
7
12
27
33
38
James OConnorThe Fiscal Crisis of the State
Charles LindblomPolitics and Markets
39
42
Mancur OlsonThe Rise and Decline of Nations
54
Albert HirschmanRhetoric of Reaction
57
John Gray (and the recent media)
64
The resurrection of Keynesfor some, not all
69