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SOCL 943: Capitalism and Crisis

Module convenor: Bob Jessop

Module Aims

The aims are to introduce debates on:

  • the nature of capitalism, its phases, varieties, and global articulation
  • whether it is inherently prone to crisis or merely contingently so and what forms of crisis are characteristic of capitalism
  • the nature of the contemporary crisis in capitalism, its periodization, differences in its dynamics across so-called varieties of capitalism, and its broader economic, political, and socio-cultural repercussions
  • the question of the governability of capitalism, crisis-management, and crises of crisis-management

Course Approach

We consider a major theme in classical and contemporary sociology -- capitalism and its crisis-tendencies. The historical and geographical scope of the course depends on student interests and current events as well earlier developments in capitalism in different countries.

Topics Covered

  • Introduction
  • What is capitalism?
  • Marx, Weber, Schumpeter
  • Crisis and Crisis-Tendencies
  • The Global Financial Crisis
  • Fiscal and Sovereign Debt Crises
  • Are Crises Inevitable, Can They be Managed?

Assessment

One short essay (1500 words) on a leading approach to capitalism submitted in week 7, 30% of final mark

One longer essay (3500 words) on an aspect of the contemporary crisis submitted at the end of the module, 70% of final mark.

Indicative Readings

  • David Coates (2000) Models of Capitalism: Growth and Stagnation in the Modern Era
  • John B. Foster and Fred Magdoff  (2009) The Great Financial Crisis: Causes and Consequences
  • Andrew Gamble (2009) The Spectre at the Feast: Capitalist Crisis and the Politics of Recession
  • Bob Hancké et al., eds (2009) Debating Varieties of Capitalism: a Reader
  • David Harvey (2010) The Enigma of Capital: and the Crises of Capitalism
  • Geoff Ingham (2008) Capitalism
  • Bob Jessop (2002) The Future of the Capitalist State
  • Naomi Klein (2008) The Shock Doctrine: the Rise of Disaster Capitalism
  • Martijn Konings, ed. (2010) The Great Credit Crash
  • Jim O’Connor (2001) The Fiscal Crisis of the State (second edition)
  • Karl Polanyi (1957) The Great Transformation
  • Jack Rasmus (2010) Epic Recession
  • Joseph A. Schumpeter (1991) The Economics and Sociology of Capitalism
  • Richard Swedberg (1998) Max Weber and the Idea of Economic Sociology

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