This course explores the moral concerns that lead people to embrace socialism while defending capitalism. It emphasizes the diversity of human preferences and the benefits of decentralized decision-making in increasing human welfare through market exchange. The course teaches the correlation between economic freedom and human prosperity, arguing that capitalism, despite producing economic inequality, tends to alleviate poverty more effectively than socialism. The intended audience for this course includes individuals interested in political economy, economic systems, and the moral and empirical implications of socialism and capitalism.
The End of Socialism - James Otteson, Hayek Lecture Series
Overview
Syllabus
Introduction
The Two Questions
Local Knowledge
The Individual
The Third Party
Uncertainty
Running an economy
economizer argument
choice architect argument
environment
measure
conclusion
trying is worth it
desirability of socialism
example
question
inequality
Taught by
Duke University Department of Political Science
