ECON 5060 - History of Economic Doctrines

The evolution of modern economic ideas reflects the changing historical dynamics of capitalism. Both modern neoclassical economics and political economy find their intellectual origins in classical political economy. Successive generations of economists have debated over the origins of value and surplus-value, the underlying determinants of prices, and the inherent stability (or instability) of the capitalist system. This course covers these debates and the key questions of whether capitalism is an economically and socially rational system and whether there are historically viable alternatives. Graduate students should register for ECON 6060 and will be held to higher standards and/or additional work.