Advanced Topics in Liberty

The Future of Capitalism

Conference for Students - April 27-29, 2012

Discussion Leader: Christopher Coyne

Session I - The Nature of Capitalism

Friedman, Milton. Capitalism and Freedom: Fortieth Anniversary Edition. Chicago: University of Chicago Press, 2002. “Introduction” (pages 1–6), Chapter 1, “The Relation between Economic Freedom and Political Freedom” (pages 7–21), and Chapter 2, “The Role of Government in a Free Society” (pages 22–36).

McDonald, Forrest and Ellen Shapiro McDonald. Requiem: Variations on Eighteenth Century Themes. Lawrence: University Press of Kansas, 1988. Chapter 10, “Capitalism and the Constitution” (pages 183–194).

Session II - Capitalism and the Rule of Law

Hayek, F. A. The Political Ideal of the Rule of Law. Cairo: National Bank of Egypt, 1955. Lecture I, “Freedom and the Rule of Law: A Historical Survey” (pages 2–15), Lecture III, “The Safeguards of Individual Liberty” (pages 29–45), and Lecture IV, “The Decline of the Rule of Law” (pages 46–60).

Session III - Can Capitalism Survive?

Schumpeter, Joseph. Capitalism, Socialism and Democracy. New York: Harper & Row Publishers, 1950, 1975, 1976. Chapter 11, “The Civilization of Capitalism” (pages 121–130), Chapter 12, “Crumbling Walls” (pages 131–142), Chapter 13, “Growing Hostility” (pages 143–155), and Chapter 14, “Decomposition” (pages 156–163).

Rogge, Benjamin A. Can Capitalism Survive?. Indianapolis: Liberty Fund, 1979. Part II, Chapter 1, “The Case for Economic Freedom” (pages 39–54).

Session IV - Is Global Capitalism Possible?

Gray, John. False Dawn: The Delusions of Global Capitalism. London: Granta Books, 1998. Chapter 5, “The United States and the Utopia of Global Capitalism” (pages 100–132).

von Mises, Ludwig. The Anti-capitalistic Mentality. Edited by Bettina Bien Greaves. Indianapolis: Liberty Fund, Inc., 2006. Chapter 4, “The Noneconomic Objections to Capitalism” (pages 44–63).

Session V - The End of Capitalism

Keynes, John Maynard. The End of Laissez-Faire: The Economic Consequences of the Peace. Santa Monica: BN Publishing, 2009. Chapter 1, “The End of Laissez-Faire” (pages 15–45).

Session VI - A Compromised Form of Capitalism.

Posner, Richard A. A Failure of Capitalism: The Crisis of ‘08 and the Descent into Depression. Cambridge: Harvard University Press, 2009. Chapter 7, “What We Are Learning about Capitalism and Government” (pages 234–251).

Stelzer, Irwin. The New Capitalism. Washington, D.C.: Hudson Institute, 2008. (pages 3-22).