This course examines the interaction between politics and markets, both in theory and in practice, linking classic works on political economy (Smith, Marx, List, Polanyi) with current policy debates. It emphasizes the ways in which markets are embedded in social and political institutions. We study how political systems and markets are organized in a wide range of different national settings, looking both at history and contemporary issues. Topics include: 1) The history of industrialization, 2) The varieties of capitalism in contemporary industrialized countries, 3) The Newly Industrializing Economies of Latin America and East Asia, 4) The problems of development, and 5) The transition from communism to a market economy in Eastern Europe and China. We conclude the course with a review of current issues in the global economy. The course adopts an interdisciplinary approach to these topics, building on analytical perspectives from institutional economics, economic sociology, and economic history as well as political science. There are no pre-requisites, but some background in economics is strongly recommended.
Subfield: Comparative Politics