20th Century European Capitalism

Catalog description

Nineteenth century Europe was the birthplace of economic liberalism. The gold standard, the night watchman state, and the writings of the classical economists laid the foundation for a golden age of laissez-faire capitalism centered on the nation-state. More than a century later Europe is known as the pioneer of the welfare state, the host for an experiment in fascist and communist economics, and the center for a supra-national process of economic cooperation: the European Union. This course traces the evolution of European capitalism during the twentieth century, from laissez-faire to welfare state economies. Throughout the semester we will study the key themes and turning points that shaped Europe’s economic development: the Great Depression, the world wars; alternative ways of organizing economic life under fascism and communism; the stagnation and crises of the 1970s; and finally Europe’s ongoing project of economic integration.