Inequality and Varieties of Capitalism
New School for Social Research: Economics
CRN: 9525
Credits: 3
This course explores the evolution and consequences of different forms of inequality within and between countries since the rise of capitalism. We begin with a survey of ‘visions of inequality’ (Milanovic) since the late 18th century: from the classical economists (Smith, Ricardo, Marx) to the competitive market explanations of postwar neoclassical economics, and then back to contemporary political economy perspectives. We then turn to a broadly conceived ‘varieties of capitalism’ literature to better understand the forms and dynamics of economic inequality across countries characterized by substantially different ideological and institutional frameworks. A central project will be the critical assessment of the longstanding pillar of mainstream economics that there is a necessary tradeoff between efficiency and equality. Does a more egalitarian capitalism really require lower rates of economic growth and higher unemployment? Is trickle-down from high inequality growth regimes necessary for improving living standards for working families? Or rather, can well-designed welfare/regulatory states achieve sustainable growth sufficient to maintain full-employment and high living standards across the income distribution? In this era of accelerating climate change, a vitally important related question is whether an environmentally sustainable growth path is possible without the promise of rising living standards for working families.
College: New School for Social Research (GF)
Department: Economics (ECO)
Campus: New York City (GV)
Course Format: Seminar (R)
Modality: In-Person
Max Enrollment: 12
Repeat Limit: 2
Add/Drop Deadline: February 3, 2025 (Monday)
Online Withdrawal Deadline: April 15, 2025 (Tuesday)
Seats Available: No
Status: Closed*
* Status information is updated every few minutes. The status of this course may have changed since the last update. Open seats may have restrictions that will prevent some students from registering. Updated: 8:26pm EST 12/13/2024