Session 11: Modern forms of capitalism and the limits of its governability: Keynes, Kalecki, Minsky and Hayek

Required Readings for both lectures:

Hayek, F.A. (1950), "Full Employment, Planning and Inflation". In: ibid., 1967: Studies in Philosophy, Politics, and Economics , Chicago: The University of Chicago Press: 270-279.

Keynes, J. Maynard (1967), The General Theory of Employment, Interest and Money , London: MacMillan, [Chapter 24].

Minsky, Hyman P. (1992), "The Financial Instability Hypothesis", Levy Economics Institute Working Paper no. 74.

Session 10: Modern forms of capitalism and the limits of its governability: Keynes, Kalecki, Minsky and Hayek

Required Readings for both lectures:

Hayek, F.A. (1950), "Full Employment, Planning and Inflation". In: ibid., 1967: Studies in Philosophy, Politics, and Economics , Chicago: The University of Chicago Press: 270-279.

Keynes, J. Maynard (1967), The General Theory of Employment, Interest and Money , London: MacMillan, [Chapter 24].

Minsky, Hyman P. (1992), "The Financial Instability Hypothesis", Levy Economics Institute Working Paper no. 74.

Session 9: States and Markets in the institutionalist perspective

Required Readings for both lectures:

Chang, HaJoon (2002), "Breaking the mould: an institutionalist political economy alternative to the neoliberal theory of the market and the state", Cambridge Journal of Economics , 26: 539-559

Polanyi, Karl, 1957 [1944]: The Great Transformation: The Political and Economic Origins of Our Time, Boston: Beacon Press, [Chapter 5, 6, 11, 12, and 21].

Session 8: States and Markets in the institutionalist perspective

Required Readings for both lectures:

Chang, HaJoon (2002), "Breaking the mould: an institutionalist political economy alternative to the neoliberal theory of the market and the state", Cambridge Journal of Economics , 26: 539-559

Polanyi, Karl, 1957 [1944]: The Great Transformation: The Political and Economic Origins of Our Time, Boston: Beacon Press, [Chapter 5, 6, 11, 12, and 21].

Session 7: The conventional perspective about the economic role of the State: welfare economics

Required Readings for the lecture:

Arrow, Kenneth J. (1963), Uncertainty and the welfare economics of medical care, The American Economic Review vol. 53, no. 5: 941-973