Debates about capitalism and socialism sometimes proceed as if we are choosing between two equally viable economic systems. As Ludwig von Mises, Friedrich von Hayek, and other economists writing in the Austrian tradition have shown, rational economic calculation requires prices. Prices can only emerge through exchange, and exchange can only take place if private property rights are secure. In five sessions, we will define and explain exactly what we mean by “capitalism” and socialism,” and we will explore the consequences of each. Specifically, we will explore the early case for socialism, the twentieth-century socialist calculation debate, and the implications of the debate for how we understand the causes and consequences of government intervention.
Mises Daily Article by instructor Art Carden on his plans for this course.
On My Capitalism and Socialism Course: More Details: blog post by Professor Carden
Live Class Sessions
The lectures are broadcast live over the internet, and students will receive a special access code to join the sessions. Students will be able to ask the professor questions via internet forum posts, and the professor will respond via video. Live attendance is not required; recordings of all live sessions will be made available to students. The weekly live class sessions will be from 7pm-8:30pm EDT on the following Thursdays: 3/31, 4/7, 4/21, 4/28, 5/5. The sessions will consist of 60 minutes of lecture and 30 minutes of question-and-answer.
Certificate of Completion:
The final grade will depend on quizzes. The Mises Academy is currently not accredited, but this course is worth 3 credits in our own internal system. Feel free to ask your school to accept Mises Academy credits. You will receive a digital Certificate of Completion for this course if you take it for a grade, and a Certificate of Participation if you take it on a paid-audit basis.
If you drop the course during its first week (7 calendar days), you will receive a full refund, minus a $25 processing fee.
If you drop the course during its second week, you will receive a half refund.
No refunds will be granted following the second week.
Video Lecture Sessions
Mac OS X 10.4 or higher
Windows XP SP2 or higher
Safari 2, Internet Explorer 7, Firefox 3.0 or higher
Course Readings, Discussions and Assignments
Windows 98 or higher
Mac OS 10.1 or higher
56k V.90 modem or higher
Firefox 3.0 or higher is recommended for both Mac and PC.
Free download: http://www.mozilla.com/firefox
Opera and Safari will not show built-in html editor in Moodle.
Internet Explorer can potentially cause errors.