Philosophy of Economics. Perspectives on Inequality and Poverty | Dominican University College

Philosophy of Economics. Perspectives on Inequality and Poverty

This course examines the diverse and significant connections between ethics, economics, equality, and poverty within the context of the recent trends towards extreme inequality of income and wealth, global financialization, wage suppression, debt deflation, and the ongoing after effects of the 2008 global financial crisis. In the twentieth century economics has been primarily descriptive and often neutral with respect to moral considerations, or it investigates these considerations from a very narrow, usually utilitarian, perspective. Social and economic philosophers in the tradition of classical political economy sought to integrate normative economics with the positive science of wealth creation. This integration has important implications for contemporary developments in post-neoclassical economics where qualitative and ethical evaluations are coming to be viewed as essential components of economic policy development. This course is an in-depth analysis of the concepts of economic justice, liberty, wealth, social economics, inequality, poverty as well as the more philosophical considerations of equalities of opportunities and benefits as found primarily in the writings of such classical political economists and philosophers as Adam Smith, David Ricardo, Thomas Malthus, G.W.F. Hegel, Karl Marx, John Stuart Mill, Henry George, Alfred Marshall, Knut Wicksell and John Maynard Keynes as well as current views of Joseph Stiglitz, Thomas Piketty, Anthony Atkinson and others on how to resolve inequality, reduce poverty, and address the ongoing economic crisis. The interaction between philosophical presuppositions about human nature, political philosophy, economic theory, and the juridical structure of civil society will be a central focus of the course. An effort will also be made to compare the central ideas of classical political economy and philosophical economics with contemporary articulations of these ideas and to look for broader philosophical explanations of economic discussions of inequality and the nature of poverty.

Wednesday, 1:30 pm - 4:30 pm
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DPHY 5433-6433
Doctorate in Philosophy
Master of Arts in Philosophy