The Four Horsemen of Economic Thought: Comparative Capitalism, Markets and Communism
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This course provides undergraduate business students with a comparative framework to critically examine the economic ideas and classic economic literature that launched and shaped modern global markets, firms, and public policy. By reading the seminal texts from Adam Smith, Milton Friedman, Karl Marx, and Mao Zedong, students will examine competing views on value creation, incentives, labor, production, private property, market coordination, and the role of the state. Emphasis is placed on contrasting ideologies of capitalism, market economies, and communism. This includes considering how economic philosophies translate into real-world business environments, regulatory regimes, and institutional outcomes in capitalist, socialist, and mixed economies. The geographic crossroads of East and West, Greece in particular, and the EU more broadly, are ideal market backdrops from which to compare, contrast, and consider these four economic frameworks.
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