ECO 5403Radical Economic Thought

Catalog

Mirroring the heterogeneity of modern societies, signed by deep imbalances in the distribution of wealth and power, several radical economic views have emerged and developed historically. In opposition to the standard of the discipline, which promotes the notion that markets, as flawed as they may be, are - by comparison - the most efficient ways to allocate society's resources, these nonconventional economic analyses question the basic socioeconomic conditions on which markets and modern capitalism stand. This course examines the present relevance - the economic-theoretical, political, ethical, and philosophical significance - of two major heterodox schools of economic thought whose key critical insights have never been duly incorporated into the dominant tradition; respectively, the schools associated with the views of Karl Marx and John Maynard Keynes, with the latter including a review of the recently influential Modern Monetary Theory.