Z: **Archived**: Political Economy 101

Political Economy 101: Schedule and Readings

Political Economy 101: "Modern" Political Economy

http://delong.typepad.com/pe101/

J. Bradford DeLong, 601 Evans, 925-708-0467, delong@econ.berkeley.edu, office hours T 12:30-2:30 and by appointment.

TTh 11-12:30 Hearst Annex A1

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August 28: Overview of the Course

Readings: "Notes: Political Economy at Berkeley Overview" Lecture Audio File (large).

Assignments: Web assignment 0: introductions due by noon on August 29

August 30 and September 4: The World in 1900: Colonization, Democratization, Marketization, Industrialization"

Readings:

• "Notes: The World in 1900" http://delong.typepad.com/pe101/2007/09/political-econo.html. Lecture Audio File.
• John Hobson, "Imperialism" http://www.econlib.org/library/YPDBooks/Hobson/hbsnImptoc.html.
• Joseph Schumpeter, "Imperialism" http://www.mises.org/books/imperialism.pdf.
• George Orwell, "Shooting an Elephant" http://gutenberg.net.au/ebooks02/0200141.txt.
• Friedrich Hayek, “The Use of Knowledge in Society” http://www.econlib.org/library/Essays/hykKnw1.html.
• Karl Marx and Friedrich Engels, "Manifesto of the Communist Party" http://www.marxists.org/archive/marx/works/1848/communist-manifesto/index.htm.

Assignments: Web assignment 1: Hobson vs. Schumpeter due by 5 PM on September 7

September 6: NO CLASS

September 11 and 13: World War I

Readings:

• "Notes: The Strange Death of the Classical Liberal World.". Part I Lecture Audio File (large) Streaming Audio. Part II Lecture Audio File (large)
• Norman Angell, "Peace Theories and the Balkan War" http://www.gutenberg.org/files/11895/11895-8.txt.
• John Maynard Keynes, "The Economic Consequences of the Peace" http://socserv2.socsci.mcmaster.ca/~econ/ugcm/3ll3/keynes/peace

Assignments: Web assignment 2: why was Norman Angell wrong? due by 5 PM on September 13

September 18 and 20: The Interwar Crisis

Readings:

• "Notes: Failing to Rebuild the Classical Liberal World": Downloadable large audio file. Streaming large audio file. September 20 streaming audio. September 20 downloadable audio.
• John Maynard Keynes, The End of Laissez-Faire http://www.panarchy.org/keynes/laissezfaire.1926.html.
• John Maynard Keynes, Essays in Persuasion (New York: W.W. Norton: 0393001903).
• Barry Eichengreen, “Hegemonic Stability Theories of the International Monetary System” http://www.nber.org/papers/W2193

Alternative Keynes Readings

*Assignments: Web assignment 3: John Maynard Keynes's mission due by 5 PM on September 18

September 25 and 27: Trapped between Hitler, Stalin, Mao, and Tojo

Readings:

• "Notes: World War II."
• George Orwell, "The Road to Wigan Pier" http://gutenberg.net.au/ebooks02/0200391.txt.
• John Maynard Keynes, "Trotsky on England" http://www.marxists.org/history/etol/document/comments/keynes01.htm

Assignments: Web assignment 4: George Orwell's dilemmas: Peacock students. Chaubey students. Durham students. Due by 5 PM on September 25

Optional reading: George Orwell, "Homage to Catalonia" http://gutenberg.net.au/ebooks02/0201111.txt.

October 2 and 4: The Post-WWII Order: Social Democracy and Bretton Woods

Readings:

• "Notes: Building Social Democracy."
• Karl Polanyi, The Great Transformation (Boston: Beacon Press: 080705643X), chapters 1-6, 18-21.
• Roosevelt’s Inaugural Address, 1933 http://www.yale.edu/lawweb/avalon/presiden/inaug/froos1.htm.

Assignments: Web assignment 5: Polanyi's well-governed market: Peacock students. Chaubey students. Durham students. Due by 5 PM on October 2

Optional reading: Bradford DeLong and Barry Eichengreen, "The Marshall Plan" http://econ161.berkeley.edu/pdf_files/Marshall_Large.pdf

October 2 Audio October 4 Audio

October 9 and 11: Really Existing Socialisms; Really Existing Nationalisms

Readings:

• "Notes: Socialisms and Nationalisms."
• Benedict Anderson, Imagined Communities (London: Verso: 1844670864), chapters 1-3, 6, 9, 11.
• Milovan Djilas, The New Class (New York: Harvest/HBJ: 015665489X)
• Karl Marx, "Wage Labour and Capital" http://www.marxists.org/archive/marx/works/1847/wage-labour/index.htm.

Assignments: Web assignment 6: Anderson or Djilas due by 5 PM on October 9

October 16 and 18: Politics, Markets, and Bureaucracies

Readings:

• "Notes: Thirty Glorious Years and Twenty Not So Great Ones."
• Milton Friedman, Capitalism and Freedom (Chicago: University of Chicago Press: 0226264211).
• Ronald Coase, “The Problem of Social Cost” http://www.sfu.ca/~allen/CoaseJLE1960.pdf

Assignments: Web assignment 7: Friedman's challenge: Peacock Students; Chaubey Students; Durham Students. Due by 5 PM on October 16. First 1000-word paper: what is surprising about the twentieth century? due on October 19.

October 23 and 25: Late Development: Failures

Readings:

• "Notes: Difficulties of Late Industrialization." Audio
• James Scott, Seeing Like a State (New Haven: Yale University Press: 0300078153), chapters 1, 3, 5-8, 10.
• Kevin Murphy, Andrei Shleifer, and Robert Vishny, "Why Is Rent-Seeking so Costly for Growth?" http://links.jstor.org/sici?sici=0002-8282%28199305%2983%3A2%3C409%3AWIRSCT%3E2.0.CO%3B2-G

Assignments: Web assignment 8: government failures due by 5 PM on October 23

October 30 and November 1: Late Development: Successes

Readings:

• "Notes: East Asia Stands Up."
• James Fallows, "How the World Works" http://www.theatlantic.com/doc/print/199312/fallows-world
• Paul Krugman, “The Myth of Asia’s Miracle” http://web.mit.edu/krugman/www/myth.html

Assignments: Web assignment 9: guided development successes due by 5 PM on October 30

Lectures: http://www.j-bradford-delong.net/2007_audio/20071030_101_Fallows.mp3 http://j-bradford-delong.net/2007_audio/20071101_111154.mp3

November 6 and 8: The Crisis of Social Democracy?

Readings:

• "Notes: Does Social Democracy Have a Neoliberal Future?"
• Stephen Holmes, “The Liberal Idea” http://www.prospect.org/cs/articles?article=the_liberal_idea.
• Robert Reich, The Work of Nations (New York: Vintage: 0679736158)

Assignments: Web assignment 10: Robert Reich's domestic neoliberalism due by 5 PM on November 6

Lectures: <http://j-bradford-delong.net/2007_audio/20071106_121406.mp3 | http://j-bradford-delong.net/2007_audio/20071108_121455.mp3

November 13 and 15: Does History Have an End?

Readings:

• "Notes: Is There a Washington Consensus?"
• Jessica Stern, Terror in the Name of God (New York: Harper: 0060505338), chapters 1-5, 10
• Benjamin Barber, “Jihad vs. McWorld” http://www.theatlantic.com/doc/199203/barber.
• Francis Fukuyama, “The End of History?” http://www.wesjones.com/eoh.htm.
• Bradford DeLong, Christopher DeLong, and Sherman Robinson, "The Case for Mexico's Rescue" http://econ161.berkeley.edu/Econ_Articles/themexicanpesocrisis.html.
• Fareed Zakaria, “The Rise of Illiberal Democracy” http://www.fareedzakaria.com/ARTICLES/other/democracy.html

Assignments: Web assignment 11: is Francis Fukuyama an idiot? due by 5 PM on November 13

Lecture: http://www.j-bradford-delong.net/2007_audio/20071115_112044.mp3

November 20: NO CLASS

Assignments: Web assignment 12: Taliban studies due by 5 PM on November 20

November 27 and 29: Challenging International Neoliberalism

Readings:

• "Notes: The Second Great Era of Globalization."
• Joseph Stiglitz, "Toward a New Model of Development" http://www2.gsb.columbia.edu/faculty/jstiglitz/download/ChinaNewModel.pdf
• Joseph Stiglitz, "Achieving More Equitable Globalization" http://www2.gsb.columbia.edu/faculty/jstiglitz/download/2005_Carter_Center.pdf
• Joseph Stiglitz, "The 50th Anniversary of the Treaty of Rome" http://www2.gsb.columbia.edu/faculty/jstiglitz/download/EU_50th_Anniversary.pdf
• Dani Rodrik, “After Neoliberalism, What?” http://ksghome.harvard.edu/~drodrik/After%20Neoliberalism.pdf.
• Harry Kreisler, "Power and Culture in International Affairs: Conversation with Josef Joffe" http://globetrotter.berkeley.edu/people/Joffe/joffe-con0.html.
• Bradford DeLong and Barry Eichengreen, "Between Meltdown and Moral Hazard" http://www.j-bradford-delong.net/Econ_Articles/CIEP/CIEP_revision06102001.PDF

Assignments: Web assignment 13: Joe Stiglitz's international anti-neoliberalism due by 5 PM on November 27

December 4: FEEDBACK: WHAT WORKED AND WHAT DIDN'T

Assignment: Second 1000-word paper: using what you have learned in your concentration due 5 PM December 4

December 6: REVIEW: MODERN POLITICAL ECONOMY

Assignments: Web assignment 14: improvement due by 5 PM on December 11

Saturday December 15: 5-8 PM: FINAL EXAM 2060 VLSB

Additional Optional Reading: David Pryce-Jones: Remembering Milovan Djilas

From the New Criterion:

Egregious Moderation: David Pryce-Jones: Remembering Milovan Djilas: In the spring of 1967, I took a train from Ceausescu’s Romania to Tito’s Yugoslavia. Travel in Communist countries switched the imagination into overdrive. The books of Walter Krivitsky, Anton Ciliga, Victor Serge, George Orwell came menacingly alive. To ring someone up and propose a meeting was to do that person no service. Each encounter brought with it shades of the prison house. In Romania, I had met a former political prisoner, one of thousands sent to cut reeds in the Danube delta up to their necks in water in all seasons. In Yugoslavia, the people I knew were nationalists, whether Serb, Croat, or Slovene. They led me to the window to point out the secret policemen on watch in the streets below. They also spoke with awe of the foremost dissident in the world, Milovan Djilas...

Alternative Keynes Readings

Alternative Keynes readings, for those who cannot get Essays in Persuasion:

• From The General Theory of Employment, Interest and Money: Chapter 12: The State of Long-Term Expectation, and Chapter 24. Concluding Notes on the Social Philosophy towards which the General Theory might Lead
• The World's Economic Outlook http://www.theatlantic.com/unbound/flashbks/budget/keynesf.htm
• Economic Possibilities for Our Grandchildren http://www.eco.utexas.edu/facstaff/Cleaver/368keynesgrandchildren.html
• How to Organize a Wave of Prosperity http://www.eco.utexas.edu/facstaff/Cleaver/368keynesprosperity.html
• The End of Laissez-Faire http://www.panarchy.org/keynes/laissezfaire.1926.html.

The PE 101 Students Have Spoken!

They have voted 90%-10% that when I next teach this course, students should be spared:

• Joseph Schumpeter, "Imperialism" http://www.mises.org/books/imperialism.pdf

In their view, it is nearly unreadable: much too dense, and relying too much on the details of what Chamberlain said to Salisbury that nobody remembers anymore.

It's too bad, because I really like Schumpeter, "Imperialism"...

For Students Who Have Not Taken PE 100...

As many people have pointed out, it is profoundly silly for me to have designed my syllabus for PE 101 assuming that people had taken PE 100 beforehand, when two-thirds of the class has not. Students who haven't taken PE 100 and want to get an idea of what they are missing should read:

Robert Heilbroner, The Worldly Philosophers
Raymond Aron, Main Currents in Sociological Thought I: Montesquieu, Comte, Marx, Tocqueville, and the Sociologists and the Revolution of 1848

And perhaps:

Raymond Aron, Main Currents in Sociological Thought II: Durkheim, Pareto, Weber