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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