The Good, The Bad and The Ugly: The Morality of Capitalism
| Code | School | Level | Credits | Semesters |
| POLI3133 | Politics and International Relations | 3 | 20 | Autumn UK |
- Code
- POLI3133
- School
- Politics and International Relations
- Level
- 3
- Credits
- 20
- Semesters
- Autumn UK
Summary
Is it possible to provide Capitalism with solid ethical foundations and moral justifications? Many critics argue no. They point to resulting phenomena such as poverty, exploitation, North-South divides, discrimination, and many other ills. But at its inception Capitalism swept away the privilege of birth-right and ossified socioeconomic structures that condemned all but a tiny percentage of the world’s population to inescapable and grinding poverty, misery, illness, and premature death as the tools of others. It was widely praised as socially and politically progressive, particularly for the poorest in our societies. Its institutions of free markets and open productivity released those individuals into a world of opportunity, potential financial security, and rapid rises of the standard of living. Capitalism was a significant step in the pursuit of social justice. But what has gone wrong? Those early hopes evaporated for many. This module asks whether capitalism can be given an ethical justification - one that would fulfil what it means for societies to be fair and just - and what that world would have to look like; how would it differ from our current world in terms of practices, laws, norms, and attitudes? It examines the good, the bad, and the ugly of capitalism and its associated practices.
This is a module in applied political theory. It brings the tools of analytical political philosophy to bear on contemporary economic problems and arrangements. It develops the skills of rigorous philosophical analysis and develops knowledge and understanding of contemporary political economy. It builds on those skills previously introduced in earlier levels. It applies abstract reasoning to concrete real-world problems.
The module traces the development of Capitalism from the Feudal era and its benefits and early moral justifications through to contemporary issues, including such things as: what are markets and market order; market failures; low wages and bad jobs; efficiency; exploitation; freedom and choice; welfare states; global trade; populism; unequal opportunities; markets and environmental destruction; the limits of markets. We will also look at the problems with the alternatives to Capitalism that have been tried from time to time.
Target Students
Available to Final Year UG students in the School of Politics and International Relations on single and joint honours plans. Also available to Final Year UG students on the Liberal Arts plan, Final Year UG students on the Philosophy, Politics and Economics plan, Final Year UG students on the Modern European Studies plan, and incoming exchange students based in the School of Politics and International Relations.
Classes
This module is taught through lectures.
Assessment
- 25% Coursework 1: 1,000-word coursework
- 25% Coursework 2: 1,000-word coursework
- 50% Exam (1-hour): Exam
Assessed by end of autumn semester
Educational Aims
To introduce students to core issues, ideas and theories relating to the moral foundations of economic orders. To encourage students to develop their analytical thinking and writing skills in regard to these issues and ideas. To access a broad range of research materials, and to read and evaluate relevant sub-disciplinary literature. To encourage students to write about, discuss, and defend viewpoints and to consider reasonable alternatives based on their merits. To encourage students to develop good written and verbal skills, and to apply them to the issues and problems addressed in this module. To encourage students to transition those skills to academic and non-academic areas outside the bounds of the module.Learning Outcomes
Intellectual:
• Develop knowledge and understanding of key issues, ideas, and theories that have shaped modern political economy with regard to the question of the morality of capitalism.
• Show awareness of key methodological, empirical, and theoretical issues in the study of contemporary political economy, along with the current state of disciplinary debate in this area.
• Demonstrate awareness of the ethical and policy implications of various views, analyses, and perspectives.
Professional and practical:
• Ability to access research material in the sub-disciplinary area.
• Develop critical reading and thinking skills as well as to prepare for discussion and assessment on the basis of that acquired and reflective knowledge.
• Demonstrate the ability to state and defend a proposition through reasoned argument.
Transferable:
• Develop good written and verbal skills, including critical, argumentative, and analytical skills.
• The ability to conduct research in a manner consistent with the discipline of political theory/philosophy.
• The ability to access and use web-based information and information technology for research, discussion, interaction, and other tasks.
• Develop familiarity with the disciplinary concepts, vocabulary, and ideas employed by political theorists.
• To develop time-management skills by beginning work (research and writing) for seminars and assessment in a timely manner and in order to allow for unforeseen eventualities or other tasks that have to be completed concurrently.