Inclusive Capitalism and Democracy

HNR 220 - Inclusive Capitalism and Democracy

MySlice Info:

Term: Fall 2018
Class #: 22132
Section: M002
Credits: 1

Ashford, Robert

Counts toward:
HNR Seminar (210,220,230)

Course Time(s):
Th 2:00 - 3:20 pm


Course Description:

In the time required to read this course description, the wealthiest of the top 1 percent of the American people will have acquired more capital wealth with the earnings of capital than most people will earn in their lifetimes, no matter how long and hard they work.

Over the last two decades, along with growing per-person production of goods and services, the US economy has experienced growing student debt, growing economic inequality, declining labor-share of total income, loss of jobs to automation and outsourcing, wealth concentration, a vanishing middle-class, and growing global economic immigration to industrial economies. These trends have a substantial impact on related social issues including (1) the distribution of economic opportunity, (2) race and gender justice, (3) environmental sustainability, and (4) aspirations for a robust democracy.

Even the most enthusiastic supporters of capitalism usually agree that it leaves too many people behind. Is this shortcoming inherent in the structure of capitalism? Is it the consequence of imperfections in human nature that either can or cannot be improved by education and/or law? Can capitalism be made more inclusive? If yes, then how?

This one-credit honors course presents simple principles that explain how capitalist economies can be reformed to produce and distribute greater and more broadly shared sustainable prosperity by way of voluntary transactions, without redistribution, taxation, and inflation.

Prerequisites: None. Math aptitude and prior economic education are not required.