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This course explores how ideas about the economy – from money, to labor, to distribution – have changed over time. We will focus on different schools of thought in economics, including mercantilism, physiocracy, classical political economy, the Austrian school, Post-Keynesianism, and neoclassical economics, placing these ideas in their global context. A central focus will be on how different thinkers conceptualize capitalism: both its benefits and pitfalls.
Economic inequality is often described in terms of uneven distribution of income and wealth. Yet, more importantly, it reflects uneven access to opportunities, advantages, and life chances. Why do some people enjoy a higher standard of living and better quality of life than others? Are such inequalities fair and just? What role do history, policy, and institutions play in sustaining or reducing inequality?