Capitalism: Success, Crisis and Reform
Yale, , Prof. W. Rae
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Updated On 02 Feb, 19
Exploding Words - Thomas Malthus and Inevitable Poverty - Counting the Fingers of Adam Smith's Invisible Hand - Karl Marx, Joseph Schumpeter, and an Economic System Incapable of Coming to Rest - Property, Freedom, and the Essential Job of Government - Rise of the Joint Stock Corporation - Can You Sell a Scheme for Operating on Beating Hearts and Make a Business of It - Mortal Life Cycle of a Great Technology - Guest Lecture by Jim Alexander: Managing the Crooked E-Institutions and Incentives in Mortgages and Mortgage - Backed Securities - Accountability and Greed in Investment Banking - The Mortgage Meltdown in Cleveland - The Political and Judicial Elements of American Capitalism - Mass Affluence Comes to the Western World - Braudel's Bell Jar - The Case of Mister Balram Halwai-Microfinance in South India-plight of the Bottom Billion - Policy Targets for Capitalist Development - Marrying the Devil in Texas - Capitalist Enterprise and Clean Water for a Bolivian City
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Capitalism Success, Crisis and Reform (PLSC 270)
A practical theory of freedom is discussed, based on Hayeks Constitution of Liberty. Free societies can be thought of as great learning machines capable of aggregating individuals knowledge and accomplishments. Professor Rae uses examples from automotives and university administration to illustrate how freedom allows everybody to profit from others knowledge. Professor Rae also highlights Hayeks story of the rock climber who is stuck at the bottom of the crevasse, and discusses whether refusing to assist another is an implicit act of coercion. Hayeks theories of freedom are applied to modern cases of extreme poverty in developing countries. Professor Rae also discusses Yale University Press decision not to publish controversial cartoons depicting the prophet Mohammed within a recent book. The lecture concludes with de Sotos notions of live and dead capital, and the importance of property rights in unlocking the productive power of capitalism.
Complete course materials are available at the Open Yale Courses website httpopen.yale.educourses
This course was recorded in Fall 2009.
Sep 12, 2018
Excellent course helped me understand topic that i couldn't while attendinfg my college.
March 29, 2019
Great course. Thank you very much.