Capitalism: Success, Crisis and Reform

Yale, , Prof. W. Rae

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


Lecture 9: Guest Lecture by Jim Alexander Managing the Crooked E

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Lecture Details

Capitalism Success, Crisis and Reform (PLSC 270)

Jim Alexander, former CFO of the Enron subsidiary Enron Global Power and Pipeline, offers an insiders account of Enrons corporate culture and operations before the companys spectacular fall. The leaders of Enron, Mr. Alexander asserts, disregarded concerns over the companys ethics. Enron strategically found and exploited loopholes in accounting regulations to make their transactions as opaque as possible. Lack of regulation and oversight allowed Enrons traders to inflate their numbers. Organizations that were in a position to oversee Enrons operations sometimes faced grossly misaligned incentives that rewarded negligence. Mr. Alexander emphasizes the notion of the "rational economic man" in Enrons corporate culture, and its predominance over notions of ethical corporate behavior.

Complete course materials are available at the Open Yale Courses website httpopen.yale.educourses

This course was recorded in Fall 2009.



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Excellent course helped me understand topic that i couldn't while attendinfg my college.

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Great course. Thank you very much.