11.409
The Institutions of Modern Capitalism: States and Markets

Investigates the relationship between states and markets in the evolution of modern capitalism. Critically assesses the rise of what Karl Polanyi and Albert Hirschman have referred to as "market society:" a powerful conceptual framework that views the development of modern capitalism not as an outcome of deterministic economic and technological forces, but rather as the result of contingent social and political processes. Exposes students to a range of conceptual tools and analytic frameworks through which to understand the politics of economic governance and to consider the extent to which societal actors can challenge its limits and imagine alternative possibilities. Sub-themes vary from year to year and have focused on urban futures, markets and morality, and the global financial crisis.