Economy and Society

Part 1. Respond to one of the following in thoughtful, well-organized essays. Engagement with relevant course materials is essential. You should use brief, informal parenthetical
citations to identify sources (just author’s last name and a brief title of the document or a page number). Approximately 2-3 pages (500-750 words).
1. Summarize, analyze, and Compare the views of Smith, Marx, Keynes, Schumpeter, and one other “worldly philosopher” of your choosing represented in Teachings from the
Worldly Philosophy on the long-term future of “the economy” or “capitalism” (Smith and Malthus did not use the term, but each had thoughts about the future of the
economy they described).
because I think it helps to break the term down. When you think of capitalism, I can imagine all sorts of lists of traits and characteristics popping into mind. But if you think
of it as a system based on capital, that conjures, I think, some different images.
MES chapters 1-5 will be particularly helpful here for empirical background. Also be sure
to include a commentary on Turgot and at least three of the following on capital and/or investment: Smith, Ricardo, Marx, Hobson, Keynes, Schumpeter.
3. Trace the evolution of labor over time from the commercial revolution through the mid-twentieth century (MES helpful here) and compare the views of Smith, Marx, and at
least two other “worldly philosophers” of your choosing on labor.
You must use at least one selection from each of three worldly
discussion of at least three “primary sources” from Teachings. Identify a common theme, similarities and/or differences on a particular issue, etc. (exception: do not cover a topic
specifically used in part 1). Develop the question and write a thoughtful essay of about 2 pages (500-ish words) in a response. Informal parenthetical citations as noted above.