Are Fundamentals "Sound"?
Bring Back the Punchbowl!

Why, Yes, I Am Picking Up Another Course from Scratch, Now that You Mention It...

A very rough cut at the syllabus:

Political Economy 101: "Modern" Political Economy

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

TTh 11-12:30 Hearst Annex A1

August 28: Overview of the Course

Readings: "Notes: Political Economy at Berkeley Overview"

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". John Hobson, "Imperialism" Joseph Schumpeter, "Imperialism" George Orwell, "Shooting an Elephant" Friedrich Hayek, “The Use of Knowledge in Society” Karl Marx and Friedrich Engels, "Manifesto of the Communist Party"

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." Norman Angell, "Peace Theories and the Balkan War" John Maynard Keynes, "The Economic Consequences of the Peace"

Assignments: Web assignment 2: why was Norman Angell wrong? due by 11 AM on September 13

September 18 and 20: The Interwar Crisis

Readings: "Notes: Failing to Rebuild the Classical Liberal World." John Maynard Keynes, The End of Laissez-Faire John Maynard Keynes, Essays in Persuasion (New York: W.W. Norton: 0393001903). Barry Eichengreen, “Hegemonic Stability Theories of the International Monetary System”

*Assignments: Web assignment 3: John Maynard Keynes's mission due by 11 AM 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" George Orwell, "Homage to Catalonia" John Maynard Keynes, "Trotsky on England" Samantha Power, "The Lesson of Hannah Arendt"

Assignments: Web assignment 4: George Orwell's dilemmas due by 11 AM on September 25

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). Robert Bates, "Lessons from History" Roosevelt’s Inaugural Address, 1933 Bradford DeLong and Barry Eichengreen, "The Marshall Plan"

Assignments: Web assignment 5: Polanyi's well-governed market due by 11 AM on October 2

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

Readings: "Notes: Socialisms and Nationalisms." Benedict Anderson, Imagined Communities (London: Verso: 1844670864) Milovan Djilas, The New Class (New York: Harvest/HBJ: 015665489X). Karl Marx, "Wage Labour and Capital" Hannah Arendt, "Ideology and Terror"

Assignments: Web assignment 6: Anderson or Djilas due by 11 AM 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). Charles Lindblom, Politics and Markets (New York: Basic Books: 0465059589). Ronald Coase, “The Problem of Social Cost”

Assignments: Web assignment 7: Friedman's challenge due by 11 AM on October 16. First 1000-word paper due on October 19.

October 23 and 25: Late Development: Failures

Readings: "Notes: Difficulties of Late Industrialization." James Scott, Seeing Like a State (New Haven: Yale University Press: 0300078153). Kevin Murphy, Andrei Shleifer, and Robert Vishny, "Why Is Rent-Seeking so Costly for Growth?"

Assignments: Web assignment 8: government failures due by 11 AM on October 23

October 30 and November 1: Late Development: Successes

Readings: "Notes: East Asia Stands Up." James Fallows, Looking at the Sun. Paul Krugman, “The Myth of Asia’s Miracle”

Assignments: Web assignment 9: guided development successes due by 11 AM on October 30

November 6 and 8: The Crisis of Social Democracy

Readings: "Notes: Does Social Democracy Have a Neoliberal Future?" Stephen Holmes, “The Liberal Idea” Robert Reich, The Work of Nations (New York: Vintage: 0679736158)

Assignments: Web assignment 10: Robert Reich's domestic neoliberalism due by 11 AM on November 6

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). Benjamin Barber, “Jihad vs. McWorld” Francis Fukuyama, “The End of History?” Bradford DeLong, Christopher DeLong, and Sherman Robinson, "The Case for Mexico's Rescue" Fareed Zakaria, “The Rise of Illiberal Democracy”

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

November 20: NO CLASS

Assignments: Web assignment 12: Taliban studies due by 11 AM on November 20

November 27 and 29: Challenging International Neoliberalism

Readings: "Notes: The Second Great Era of Globalization." Joseph Stiglitz, Making Globalization Work (New York: Norton: 0393330281). Dani Rodrik, “After Neoliberalism, What?” Harry Kreisler, "Power and Culture in International Affairs: Conversation with Josef Joffe" Bradford DeLong and Barry Eichengreen, "Between Meltdown and Moral Hazard"

Assignments: Web assignment 13: Joe Stiglitz's international anti-neoliberalism due by 11 AM on November 27


Assignment: Second 1000-word paper due 5 PM December 4


Assignments: Web assignment 14: improvement due by 11 AM on December 11

Saturday December 15: 5-8 PM: FINAL EXAM