Political Economy of Industrial Nations
Politics and economics are both vital for understanding the world we live in. Why have some nations become rich while others remained poor? How are political and economic development connected? How have fundamental concepts such as competitive markets, property rights, and rule of law evolved? Is economic freedom essential to political liberty, or do free markets merely allow the powerful to oppress the weak? Does globalization benefit rich and poor countries alike? Does capitalism erode moral and civic character? To examine these questions, the course begins with classic texts such as Adam Smith and Karl Marx and extends to recent problems of financial instability, global poverty, sustainable development and economic diplomacy.
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