Introduction
Week 1: General Introduction
- Peter Singer, “Can Business be Ethical?”
- Milton Friedman, “The Social Responsibility of Business Is to Increase Its Profits”
Part I: Economics and ethics?
Week 2: The idea of separation
- George Stigler, excerpts from “The Economist as Preacher”
Week 3: The idea of integration
- Amartya Sen, excerpts from On Ethics and Economics
Part II: Economics as moral science
Week 4: Just Price Theory
- Thomas Aquinas, Summa Theologiae, Q. 58, 77, and 78: “What is Justice?”; “Of cheating, which is committed in buying and selling”; “On the Sin of Usury”
- Michael Sandel, “Jumping the Queue” in What Money Can’t Buy
Week 5: Labour Theory of Value—Classical Foundations
- Adam Smith, Book 1, Chapters V and VI in The Wealth of Nations
- Discussion on Fair Trade. Reading TBD.
Week 6: Labour Theory of Value—Exploitation
- Karl Marx, “Chapter 6: The Sale and Purchase of Labour-Power” in Capital
- Upton Sinclair, excerpts from "The Jungle"
Week 7: Marginalist Revolution
- Carl Menger, excerpts from Ch.1 and 3 in Principles of Economics
- Jeffrey Moriarty, "Why Online Personalized Pricing is Unfair"
Part III: Social responsibility and related topics
Week 8: Stakeholder Theory
- Edward Freeman and David Reed, “Stockholders and Stakeholders: A New Perspective on Corporate Governance”
- Slavoj Zizek, “New Spirit of Capitalism” in First as Tragedy, Then as Farce
Week 9: Meaningful Work
- Max Weber, “Luther's Conception of the Calling. Task of the Investigation” in Protestant Ethic and the Spirit of Capitalism
- David Graeber, excerpts from Bullshit Jobs
Week 10: Universal Basic Income
- Thomas Paine, “Agrarian Justice”
- Yanis Varoufakis and Daron Acemoglu debate on Universal Basic Income
Week 11: Population
- Malthus, excerpts from Essay on the Principle of Population
- Garrett Hardin, "The Tragedy of the Commons"
Week 12: Environment
- Aldo Leopold, "The Land Ethic"
- John B. Foster, excerpts from Marx's Ecology
Week 13: Progress and destruction
- Joseph Schumpeter, excerpts from Can Capitalism Survive? Creative Destruction and the Global Economy
- Clayton Christensen, excerpts from The Innovator's Dilemma
Week 14: Review for final exam