Module Directory

Since the financial crisis of 2008, the social consequences, moral status, and even long-term viability of capitalism have come under renewed scrutiny. Does it foster economic growth and protect individual freedom, as its proponents claim? Or is it a destructive system out of control, as its detractors argue?  Should the market be given even freer rein?  Or should capitalism be reformed and restricted?  Or should it be abolished and replaced altogether? And, if so, what would replace it?

In this module, we will explore the arguments of both defenders and critics of capitalism. We will study a range of texts, both historical (such as Adam Smith, G.W.F. Hegel, Karl Marx, Friedrich von Hayek, Milton Friedman, and Karl Polanyi) and contemporary (such as Nancy Fraser, Liza Herzog, Debra Satz, Elizabeth Anderson, and Wolfgang Streeck).

In this module, we will study texts by both defenders and critics of capitalism.

In exploring the arguments around capitalism as an economic system and form of life, we will study a range of texts, both historical and contemporary, from authors including Adam Smith, Karl Marx, Friedrich von Hayek, Michael Sandel, Wolfgang Streeck, and Nancy Fraser.

The aims of the module are:

• to develop a familiarity with some of the major figures and themes discussed in the module


• to undertake a close assessment of selected classics on capitalism or its critique


• to gain a precise understanding of at least one major theme or problem covered in the module


• to develop the ability to critically analyse writings in social and political philosophy, and to produce argumentatively precise and robust critical analysis

By the end of this module, students will be expected to be able to:

1. Explain the main theories, models and concepts applied in the analysis and critique of capitalism.


2. Summarize normative debates about capitalism, and its dominant contemporary form, neo-liberalism.


3. Explain and critically assess the arguments made by advocates and critics of capitalism.

Skills for your Professional Life (Transferable Skills)

By the end of this module, students should also have acquired a set of transferable skills, and in particular be able to:

1. Define the task in which they are engaged and exclude what is irrelevant.


2. Seek and organise the most relevant discussions and sources of information.


3. Process a large volume of diverse and sometimes conflicting arguments.


4. Compare and evaluate different arguments and assess the limitations of their own position
   or procedure.


5. Write and present verbally a succinct and precise account of positions, arguments, and their presuppositions and implications.


6. Be sensitive to the positions of others and communicate their own views in ways that are accessible to them.


7. Think 'laterally' and creatively - see interesting connections and possibilities and present
   these clearly rather than as vague hunches.


8. Maintain intellectual flexibility and revise their own position if shown wrong.


9. Think critically and constructively.

Erasmus/IP students must have already taken an introductory module in Philosophy or Political Theory at their home institution.

This module will be delivered via:

• One 2-hour seminar per week with the whole group, divided between a lecture and group presentations each week.
• One 1-hour class per week in smaller groups in which selected texts and themes will be discussed in more depth each week.

There will also be Reading Week when no teaching will take place, exact week to be confirmed