Foundations of Capitalist Political & Economic Thought

Name: Foundations of Capitalist Political & Economic Thought
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How Capitalist countries promote individual freedom through the Free Markets, Wealth and Efficient Distribution

Created byGlensinos Interdisciplinary Center

Last updated 7/2020

English

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What you'll learn

How Capitalism leads to Human Freedom.
The history of modern capitalist systems.
How the capitalist system was developed.
Nature of creating and generating wealth.

Course content

1 section • 10 lectures • 1h 5m total length

Introduction3:01
Trace the evolution of capitalist governance from medieval times to the post cold war era, outlining features such as a strong private sector, an independent central bank, and antitrust laws.
Capitalist view of Individual Freedom6:33
Explore how capitalist thought defines individual freedom as the government's limited role, protecting rights and enabling the freedom for citizens to pursue their own ends.
Capitalists and the fear of Big Governments8:29
Limit government scope to essentials, defense, law, infrastructure, and promote capitalism through a free market where prices are driven by demand and supply, reflecting true value and individual choice.
Harms of "Big Governments" in Pre-Industrial Europe (1300-1789)5:01
Examine how pre-industrial Europe's big governments and the church imposed oppressive laws, from sumptuary restrictions to monarchic control, and how Montesquieu's critique advocates separation of powers.
Two Levels of "Separation of Powers" in Capitalist Thought6:10
Examine two levels of separation of powers in capitalist thought: political split among executive, legislature, and judiciary, and economic split between public and private sectors with free markets.
Key Elements of the Free Markets10:42
Explore the key elements of free markets, including independent central banks, stock markets, anti-trust laws, entitlement systems, and consumer sovereignty, to understand how greed drives growth under capitalism.
Capitalism's Counter-Argument to Marxism & Communism11:31
Examines capitalism's counter arguments to Marxism and communism, contrasting free markets, consumer sovereignty, and limited state power with central planning and tyranny fears.
Running an Efficient Public Sector - Rawls' "Justice as Fairness" & Capitalism4:17
Rawls' justice as fairness guides how a constrained public sector should allocate scarce resources in capitalism, prioritizing equal rights, benefits to the most disadvantaged, and open opportunity for all.
Anarchocapitalists8:08
Anarcho-capitalists argue the state should be eliminated; private property, voluntary organizations, and free markets regulate society, with roots in the Austrian School and Rothbard's For a New Liberty.
Final Words2:02
Explore how capitalism separates political and economic power to safeguard individual political and economic rights, preventing the road to serfdom and promoting a free market and justice as fairness.

Requirements

General Knowledge.

Description

This course examines the ideas of the fore-runners of Capitalist thoughts and Libertarian ideas including Ludwig von Mises, Murray Rothbard, Robert Nozick and Friedrich von Hayek. It examines the history of capitalism as presented by Henry Clark and this goes back to the writings of Baron de Montesquieu. The course helps undergraduate and postgraduate students in the United States, Western Europe and around the world to understand the context within which business is conducted. It is a good introductory course for foreign students seeking to learn in western universities as well as people with entrepreneurial ambitions. This provides an insight into the nature of the creation and generation of wealth. It gives learners an insight into basic work ethics that built wealth in Eurocentric countries. These are ideas that lay the foundation for the creation and development of nations. Elite universities around the world teach this course as a precursor for the development of leaders. If you take this, you will gain the advantage of understanding how the top Ivy League universities prepare their students for greater outcomes and results. Any learner can use this to complement their knowledge and understanding of the world of business and macroenvironmental economic factors that affect business. Such competencies are useful in decision-making and analysis of strategic pointers in business decisions.

Who this course is for:

Every adult. Particularly those involved or planning to undertake university education and/or professional careers.
Economics, Political Science, Law, Sociology and Business students in graduate and undergraduate courses will benefit from this course.