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 markets are structured in a wide range of different national settings, looking at both history and contemporary issues. We review some of the most influential works from four disciplines: Economics, Sociology, History, and Political Science. Topics include: 1) The history of industrialization, 2) The varieties of capitalism in contemporary industrialized countries, 3) The emerging 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.
Subfield: Comparative Politics
Some background in economics strongly recommended to get the most out of this course and to do well in the course