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University of North Carolina Greensboro Historical Context of Economic Systems Essay

 

In summary, the basic idea is for you to write on some specific aspect of one of the issues at hand (choose from list below) that you believe calls for further scrutiny.

  

Historical Context of Economic Systems, Trade, and Business   in Society

  • On Exchange, Specialization and Trade
  • Historical Evolution of Trade and Business
  • Emergence and Consequences of Capitalism
  • Capitalism and its early critics
  • Innovation and Economic growth under capitalism vs.   under other economic systems.

J.S.   Mill On Liberty

Marx   & Engels’ Communist Manifesto

 

Different Perspectives on Business Firms

  • Why do firms exist?
  • Trade, the firm and the circular flow of income.
  • The firm as a nexus of contracts.
  • Competition, entrepreneurship and profit maximization
  • The role of the firm in economic growth and economic   progress

R.   Coase’s “Theory of the Firm” from Economica

Excerpt   of “Who Gets What and Why” by Alvin Roth

Fontaine   et al. on The Stakeholder Theory

 

On Economic Systems and the Incentives Facing the   Firm

  • Feudalism, Theocracies, Communist Systems, Fascist   Systems, etc.
  • On the Universal Failure of Utopian Economic Systems
  • On Property Rights and and Rule of Law in Pure Free   Market Capitalism
  • Mixed Capitalist Economies
  • Incentives and the Economic Behavior of Businesses in   Different Economic Systems
  • Case:Venezuela

Niskanen’s   “ Undemanding Ethics of Capitalism” Cato   Journal 2009

The   US Bill of Rights

Wikipedia   Article on Economic Systems

 

Different Approaches to Prescriptive and Descriptive   Ethics

  • What is the role of ethics in society? What is the role   of ethics in personal relations, market arrangements, institutions,   organizations, the economy, the legal system, etc.?Ethical Relativism
  • Consequentialism and Utilitarianism
  • Deontology and Rules Based (or Principles Based) Ethics
  • Virtue Ethics 
  • New Approaches based on insight from Moral Psychology   and Behavioral Economics

Web   links to readings on Normative Ethics.

Haidt’s   Article on the “Social Intuitionist Approach to Moral Judgment” Psychological Review 2001

Haidt   on “The Moral Emotions” from the Handbook of Affective Sciences

Ariely,   Introduction

 

Ariely’s Honest Truth About Dishonesty I 

  • Moral Philosophy vs. Moral Psychology
  • The simple model of rational crime (SMORC).
  • Ariely on fun with the fudge factor; honesty &   cheating in golf. Conflicts   of Interest: Blinded by Our Own Motivations. 
  • Ego Depletion: Why We Blow it When We are Tired
  • Social Signals: Wearing Fakes, Self-Image and Cheating.
  • Cheating ourselves: Self-Deception and Dishonesty
  • Creativity and Dishonesty
  • Ariely’s Semi-Optimistic Ending: People Don’t Cheat as   Much as One Might Expect

Ariely,   Chapters 1-5

 

Ariely’s Honest Truth About Dishonesty II

  • Cheating as an Infection: How We Catch the   Dishonesty Germ
  • Collaborative Cheating: Why Two Heads Aren’t   Necessarily Better Than One

Ariely,   Chapters 6-10

 

Implications of Ariely’s Arguments for Business,   Government, and Society

  • What can business do to promote honesty within itself   and in dealing with customers and the public.
  • Who guards the guardians?
  • Ethics of Capitalism
  • Stakeholder view of Business Ethics
  • Who guards the guardians?
  • Market Failures such as Externalities and Public Goods
  • Destructive Competition and Business Fraud
  • Government Oversight and Government Failure

Ariely,   Full Book

Ariely   blog

 

On the Moral Obligations of Business

Friedman’s   “The Social Responsibility of Business is to Increase its Profits” from NYT   Magazine 1970.

Niskanen’s   “Undemanding Ethics of Capitalism” from the Cato Journal 2009.

Freeman   and Dmytriyev’s “Corporate Social Responsibility and Stakeholder Theory” from   Symphonia 2017

 

On Government Regulation of Business and the Limits   to Economic Freedom

The US Bill of Rights

J.S. Mill (1859) On Liberty

Crews, Clyde W. Ten   Thousand Commandments 2019, Competitive Enterprise Institute, 2019

Winston, Clifford. Government Failure vs. Market Failure.  AEI & Brookings, 2006.

 

Business, society and the coronavirus

 

On the likely aftermath and long term effects of   the coronavirus outbreak on business and society