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Lecturer: Martin Wilkinson

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Recommended readings 

Items are cited according to the Chicago Manual of Style. 15th ed. "Bibliography" style.

The various types of capitalism

How capitalism produces the goods

The efficiency problems of planned economies

Market failure

Capitalism and unemployment

Efficiency

The value of what capitalism produces

Consumer sovereignty 1

Consumer sovereignty 2

Alienation and self-realization

Democracy at work 1

Democracy at work 2

Capitalism and community

Blocked exchanges

Self-interest and altruism, markets and incentives

Justice-based arguments for capitalism

Capitalism and inequality 1

Capitalism and inequality 2

Exploitation

Freedom 1

Freedom 2

The minimum wage

Note: Course readings may only be used for the University's educational purposes. You may print a copy for your own use, but you may not make a further copy for any other purpose. You may not copy or distribute any part of the reading to any other person. Failure to comply with these terms may expose you to legal action for copyright infringement and/or disciplinary action by the University.

The various types of capitalism

Arnold, N. Scott. "Capitalism Versus Socialism: An Analytical Perspective." Chap.1. in The Philosophy and Economics of Market Socialism: A Critical Study. New York: Oxford University Press, 1994.

Library copy | E-book

Brittan, Samuel. "A Restatement of Economic Liberalism." Chap.1 in A Restatement of Economic Liberalism. 2nd ed. Basingstoke : Macmillan, 1988.

Library copy

Rawls, John. A Theory of Justice. Oxford: Oxford University Press, 1972. secs. 42, 43.

Library copies | E-book

How capitalism produces the goods

Buchanan, Allen. "Efficiency Arguments For and Against the Market." Chap. 2 in Ethics, Efficiency, and the Market. Oxford : Clarendon, 1985.

Library copies

Harford, Tim. "Perfect Markets and the 'World of Truth'." Chap. 3 in The Undercover Economist: Exposing Why the Rrich are Rich, the Poor are Poor--and Why You Can Never Buy a Decent Used Car! Oxford: Oxford University Press, 2006.

Library copies | E-book

---. "Who Pays For Your Coffee?" Chap. 1 in The Undercover Economist: Exposing Why the Rrich are Rich, the Poor are Poor--and Why You Can Never Buy a Decent Used Car! Oxford: Oxford University Press, 2006.

Library copies | E-book

Heath, Joseph. Filthy Lucre: Economics for People who Hate Capitalism. Toronto: HarperCollins, 2009. Chap. 3.

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Schweickart, David. Against Capitalism. Cambridge: Cambridge University Press, 1993. pp. 77-88, 126-36.

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Sen, Amartya. "The Moral Standing of the Market." Social Philosophy and Policy 2, no. 2 (1985): 1-19.

Library copies | Journal article

The efficiency problems of planned economies

Kornai, Janos. "Money and Price." Chap. 8 in The Socialist System: The Political Economy of Communism. Princeton, N.J.: Princeton University Press, 1992.

Library copy | E-book | Chapter

Kornai, Janos. "Planning and Direct Bureaucratic Control." Chap. 7 in The Socialist System: The Political Economy of Communism. Princeton, N.J.: Princeton University Press, 1992.

Library copy | E-book | Chapter

Roemer, John. "Why the Centrally Planned Economies Failed." Section 4 in Equal Shares: Making Market Socialism Work. London: Verso, 1996.

Library copy

Steele, David Ramsay. "Planning and the Market." Chap. 11 in From Marx to Mises: Post-Capitalist Society and the Challenge of Economic Calculation. La Salle, Ill.: Open Court, 1992.

Library copies

Wilkinson, T. M. "Incentives and Economic Calculation." Chap. 7 in Freedom, Efficiency and Equality. Basingstoke: Macmillan Press, 1999.

Library copies | e-book

Market failure

Barr, Nicholas. "Health and Health Care." Chap. 12 in The Economics of the Welfare State. 4th ed. Oxford: Oxford University Press, 2004. pp. 253-64.

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Harford, Tim. "Crosstown Traffic." Chap. 4 in The Undercover Economist: Exposing Why the Rrich are Rich, the Poor are Poor--and Why You Can Never Buy a Decent Used Car! Oxford: Oxford University Press, 2006.

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---. "The Inside Story." Chap. 5 in The Undercover Economist: Exposing Why the Rrich are Rich, the Poor are Poor--and Why You Can Never Buy a Decent Used Car! Oxford: Oxford University Press, 2006. Chaps. 4, 5.

Library copies | E-book

Kuhn, Steven. "Prisoner's Dilemma." The Stanford Encyclopedia of Philosophy. Spring 2009 ed, edited by Edward N. Zalta.

Internet site

Le Grand, Julian. "The Theory of Government Failure." British Journal of Political Science 21, no. 4 (1991): 423-442.

Library copies | Journal article

Capitalism and unemployment

Akerlof, George, and Robert Shiller. "Why Are There People Who Cannot Find a Job?" Chap. 8 in Animal Spirits: How Human Psychology Drives the Economy, and Why it Matters for Global Capitalism. Princeton: Princeton University Press, 2009.

Library copy

---. "Why is There a Trade-Off Between Inflation and Unemployment in the Long Run?" Chap. 9 in Animal Spirits: How Human Psychology Drives the Economy, and Why it Matters for Global Capitalism. Princeton: Princeton University Press, 2009.

Library copy

Brittan, Samuel. Capitalism With a Human Face. Aldershot, Hants, England: E. Elgar, 1995.

Library copy

Buchanan, Allen. Ethics, Efficiency, and the Market. Oxford : Clarendon, 1985. pp.32-6.

Library copies

Heath, Joseph. Filthy Lucre: Economics for People who Hate Capitalism. Toronto: HarperCollins, 2009. pp. 200-17.

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Schweickart, David. Against Capitalism. Cambridge: Cambridge University Press, 1993. pp.103-112.

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Parijs, Phillipe van."Crises." 6.4 in Real Freedom for All: What (If Anything) Can Justify Capitalism? Oxford: Clarendon Press, 1995. 6.5.

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---. "The Reserve Army of the Unemployed." 6.5 in Real Freedom for All: What (If Anything) Can Justify Capitalism? Oxford: Clarendon Press, 1995. 6.5.

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Efficiency

Buchanan, Allen. "Introduction." Chap.1 in Ethics, Efficiency, and the Market. Oxford: Clarendon, 1985.

Library copies

France. Commission on the Measurement of Economic Performance and Social Progress. Report. J Stiglitz. 2009?

Internet site

Wilkinson, T. M. "Efficiency." Chap. 4 in Freedom, Efficiency and Equality. Basingstoke: Macmillan Press, 1999.

Library copies | E-book

The value of what capitalism produces

Cohen, G. A. "Use-Value, Exchange-Value, and Contemporary Capitalism." Chap. 11 in Karl Marx’s Theory of History: A Defence. Princeton: Princeton University Press, 1978.

Library copy

Also in Cohen, G. A. "Use-Value, Exchange-Value, and Contemporary Capitalism." Chap. 11 in Karl Marx’s Theory of History: A Defence. Expanded ed. Oxford: Oxford University Press, 2000.

Library copy

Lane, Robert. "The Joyless Market Economy." In Economics, Values, and Organization, edited by Avner Ben-Ner, and Louis Putterman.Cambridge: Cambridge University Press, 2000.

Library copy

Heath, Joseph. Filthy Lucre: Economics for People who Hate Capitalism. Toronto: HarperCollins, 2009. Chap. 9.

Library copy on order

Schweickart, David. Against Capitalism. Cambridge: Cambridge University Press, 1993. pp. 161-8.

Library copy

Steele, David Ramsay. "Abundance and the Price System." Chap. 12 in From Marx to Mises: Post-Capitalist Society and the Challenge of Economic Calculation. La Salle, Ill.: Open Court, 1992.

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Consumer sovereignty 1

Frank, Robert. "Envy or Context?" Chap. 4 in Falling Behind: How Rising Inequality Harms the Middle Class. Berkeley: University of California Press, 2007.

Library copy

Lane, Robert. "The Joyless Market Economy." In Economics, Values, and Organization, edited by Avner Ben-Ner and Louis Putterman, chap. 18. Cambridge: Cambridge University Press, 2000.

Library copy

Miller, David. "Consumer Sovereignty." Chap. 5 in Market, State, and Community: Theoretical Foundations of Market Socialism. Oxford: Oxford University Press, 1990.

Library copy | E-book | Chapter

Schweickart, David. Against Capitalism. Cambridge: Cambridge University Press, 1993. pp. 112-125.

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Thaler, Richard, and Cass Sunstein. "Biases and Blunders. " Chap. 1 in Nudge: Improving Decisions About Health, Wealth, and Happiness. New Haven, Conn.: Yale University Press, 2008.

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Thaler, Richard, and Cass Sunstein. "When Do We Need a Nudge? " Chap. 4 in Nudge: Improving Decisions About Health, Wealth, and Happiness. New Haven, Conn.: Yale University Press, 2008.

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Consumer sovereignty 2

Crisp, Roger. "Persuasive Advertising, Autonomy and the Creation of Desire." Journal of Business Ethics 6, no. 5 (1987): 413-418. A

Library copies | Journal article

Frank, Robert. "Smart for One, Dumb for All." Chap. 9 in Falling Behind: How Rising Inequality Harms the Middle Class. Berkeley: University of California Press, 2007.

Library copy

Heath, Joseph, and Andrew Potter. The Rebel Sell: How the Counter Culture Became Consumer Culture. Chichester: Capstone, 2005. pp 209-24.

Library copy

Miller, David. "Consumer Sovereignty." Chap. 5 in Market, State, and Community: Theoretical Foundations of Market Socialism. Oxford: Oxford University Press, 1990.

Library copies | E-book | Chapter

Alienation and self-realization

Arneson, Richard J. "Meaningful Work and Market Socialism." Ethics 97, no. 3 (1987): 515-545.

Library copies | Journal article

Buchanan, Allen. Ethics, Efficiency, and the Market. Oxford : Clarendon, 1985. pp. 95-101.

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Elster, Jon. "Alienation." Chap. 3 in An Introduction to Karl Marx. Cambridge: Cambridge University Press, 1986.

Library copy

---. "Self-Realization in Work and Politics: The Marxist Conception of the Good Life." Social Philosophy and Policy 3, no. 2 (1986): 97-126.

Library copies | Journal article

Also in Alternatives to Capitalism, edited by Jon Elster and Karl Ove Moene. Cambridge: Cambridge University Press, 1989.

Library copy

Lane, Robert. "The Joyless Market Economy." In Economics, Values, and Organization, edited by Avner Ben-Ner, and Louis Putterman.Cambridge: Cambridge University Press, 2000.

Library copy

Miller, David. "Alienation and Communism." Chap. 8 in Market, State, and Community: Theoretical Foundations of Market Socialism. Oxford: Oxford University Press, 1990.

Library copy | E-book | Chapter

Nozick, Robert. Anarchy, State, and Utopia. Oxford: Blackwell, 1975. pp. 246-50.

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Democracy at work 1

Mill, J. S. "On the Probable Futurity of the Labouring Classes." In Principles of Political Economy, edited by Donald Winch. Book 4, chap. 7. Harmondsworth : Penguin, 1970.

Library copy | E-books (various editions)

Miller, David. "Market Neutrality." Chap. 3 in Market, State, and Community: Theoretical Foundations of Market Socialism. Oxford: Oxford University Press, 1990.

Library copy | E-book | Chapter

---. "A Vision of Market Socialism: How it Might Work and its Problems (Summer 1991)." In Why Market Socialism? Voices from Dissent, edited by F. Roosevelt and D. Belkin, 247-268. Armonk, N.Y. : M.E. Sharpe, 1994.

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Schweickart, David. Against Capitalism. Cambridge: Cambridge University Press, 1993. pp. 60-77.

Library copy

Steele, David Ramsay. "Prospects for Workers' Self-Management." Chap. 14 in From Marx to Mises: Post-Capitalist Society and the Challenge of Economic Calculation. La Salle, Ill.: Open Court, 1992.

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Democracy at work 2

Arneson, Richard. "Democratic Rights at National and Workplace Levels." In The Idea of Democracy, edited by David Copp, Jean Hampton, and John E. Roemer, 118-148. Cambridge: Cambridge University Press, 1993.

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Bowles, S., and H. Gintis. "A Political and Economic Case for the Democratic Enterprise." In The Idea of Democracy, edited by David Copp, Jean Hampton, and John E. Roemer, 375-399. Cambridge: Cambridge University Press, 1993.

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Dahl, Robert. "Democracy in the Workplace: Is it a Right or a Privilege?" Chap. 4 in Democracy, Liberty, and Equality. Oslo: Norwegian University Press, 1986.

Library copy

Miller, David. "Market Neutrality." Chap. 3 in Market, State, and Community: Theoretical Foundations of Market Socialism. Oxford: Oxford University Press, 1990.

Library copy | E-book | Chapter

Nozick, Robert. Anarchy, State, and Utopia. Oxford: Blackwell, 1975. pp. 250-3, 268-71.

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Capitalism and community

Arneson, Richard. "Commerce and Selfishness." Canadian Journal of Philosophy: Supplementary Volume 8 (1982)

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Brittan, Samuel. "''There Is No Such Thing As Society'." Chap. 4 in Capitalism With a Human Face. Aldershot, Hants, England: E. Elgar, 1995.

Library copy

Cohen, G. A. "Why Not Socialism?" in Democratic Equality: What Went Wrong? edited by Edward Broadbent or Why Not Socialism?

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Miller, David. "In What Sense, If Any, Must Socialism be Communitarian?" Social Philosophy and Policy 6, no. 2 (1989): 51-73.

Library copies | Journal article

Nozick, Robert. "Who Would Choose Socialism?" Chap. 14 in Socratic Puzzles. Cambridge, Mass.: Harvard University Press, 1997.

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Blocked exchanges

Anderson, Elizabeth. "The Ethical Limitations of the Market." Chap. 7 in Value in Ethics and Economics. Cambridge, Mass.: Harvard University Press, 1993.

Library copy

Andre, Judith. "Blocked Exchanges: A Taxonomy." In Pluralism, Justice, and Equality, edited by David Miller and Michael Walzer, chap. 8. Oxford: Oxford University Press, 1995.

Library copies | E-book | Chapter

Tobin, James. "On Limiting the Domain of Inequality." In Economic Justice: Selected Readings, edited by Edmund S. Phelps. Harmondsworth: Penguin Education, 1973.

Library copy

Also in Journal of Law and Economics 13, no. 2 (1970): 263-277.

Library copies | Journal article

Waldron, Jeremy. "Money and Complex Equality." In Pluralism, Justice, and Equality, edited by David Miller and Michael Walzer, chap. 7. Oxford: Oxford University Press, 1995.

Library copies | E-book | Chapter

Walzer, Michael. "Money and Commodities." Chap. 4 in Spheres of Justice: A Defence of Pluralism and Equality. Oxford: Robertson, 1983.

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Self-interest and altruism, markets and incentives

Brittan, Samuel. "Two Cheers For Self-Interest." Chap. 2 in Capitalism With a Human Face. Aldershot, Hants, England: E. Elgar, 1995.

Library copy

Carens, Joseph. "Rights and Duties in An Egalitarian Society." Political Theory 14, no. 1 (1986): 31-49.

Library copies | Journal article

Cohen, G. A. "Envoi." pp 180-181 in If You’re An Egalitarian, How Come You’re So Rich? Cambridge, Mass.: Harvard University Press, 2000.

Library copy

---. "Justice, Incentives and Selfishness." Chap. 8 in If You’re An Egalitarian, How Come You’re So Rich? Cambridge, Mass.: Harvard University Press, 2000.

Library copy

---. "Incentives, Inequality, and Community." secs. 1-11. In Equal Freedom: Selected Tanner Lectures on Human Values, edited by Stephen Darwall. Ann Arbor: University of Michigan Press, 1995.

Library copies

Also in The Tanner Lectures on Human Values 13 (1992)

Library copies

Heath, Joseph. Filthy Lucre: Economics for People who Hate Capitalism. Toronto: HarperCollins, 2009. Chap. 2.

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Sen, Amartya. "The Profit Motive." Chap. 3 in Resources, Values, and Development. Cambridge, Mass.: Harvard University Press, 1984.

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Justice-based arguments for capitalism

Frank, Robert H. The Winner-Take-All Society: How More and More Americans Compete for Ever Fewer and Bigger Prizes, Encouraging Economic Waste, Income Inequality, and an Impoverished Cultural Life. New York: Free Press, 1995.

Library copy on order

Harford, Tim. "Why Your Boss is Overpaid." Chap. 4 in The Logic of Life: The Rational Economics of an Irrational World. New York, N.Y. Random House, 2008.

Library copies

Heath, Joseph. Filthy Lucre: Economics for People who Hate Capitalism. Toronto: HarperCollins, 2009. Chap. 1.

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Miller, David. "Distributive Justice." Chap. 6 in Market, State, and Community: Theoretical Foundations of Market Socialism. Oxford: Oxford University Press, 1990.

Library copy | E-book | Chapter

Nozick, Robert. Anarchy, State, and Utopia. Oxford: Blackwell, 1975. pp. 149-182.

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Taleb, Nassim. "From Mediocristan to Extremistan, and Back ." Chap. 14 in The Black Swan: The Impact of the Highly Improbable. New York: Random House, 2007.

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---. "Too Many Millionaires Next Door." Chap. 8 in Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets. 2nd ed. New York: Thomson/Texere, 2004. Also read the preceding pages on `Survivorship and other biases’

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Capitalism and inequality 1

Brittan, Samuel. "Redistribution: Yes; Equality; No."Capitalism With a Human Face. Aldershot, Hants, England: E. Elgar, 1995. Chap.12.

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Cohen, G. A. "The Pareto Argument for Inequality." Social Philosophy and Policy 12 (1995)

Library copies | Note the full text is not available in Cambridge Journals Online.

Also chap. 2 in Rescuing Justice and Equality. Cambridge, Mass.: Harvard University Press, 2008.

Library copies

---. "Why Not Socialism?" In Democratic Equality: What Went Wrong? edited by Edward Broadbent. Toronto: University of Toronto Press, 2001.

Library copy On order

Also in Why Not Socialism?

Library copy On order

Nozick, Robert. Anarchy, State, and Utopia. Oxford: Blackwell, 1975. pp. 232-46.

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Scanlon, T. M. "The Diversity of Objections to Inequality." In The Ideal of Equality, edited by Matthew Clayton, Andrew Williams. New York: St. Martin’s Press, 2000.

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Also in The Difficulty of Tolerance: Essays in Political Philosophy. Cambridge: Cambridge University Press, 2003.

Library copies

Wilkinson, T. M. "Equality." Chap. 5. in Freedom, Efficiency and Equality. Basingstoke: Macmillan Press, 1999.

Library copies | E-book

Capitalism and inequality 2

Frank, Robert H. "Envy or Context." Chap. 4 in Falling Behind: How Rising Inequality Harms the Middle Class. Berkeley: University of California Press, 2007.

Library copy

---. "Inequality, Happiness and Health." Chap. 3 in Falling Behind: How Rising Inequality Harms the Middle Class. Berkeley: University of California Press, 2007.

Library copy

---. "Lessons for Public Policy." Chap. 11 in Falling Behind: How Rising Inequality Harms the Middle Class. Berkeley: University of California Press, 2007.

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---. The Rising Cost of Adequate." Chap. 5 in Falling Behind: How Rising Inequality Harms the Middle Class. Berkeley: University of California Press, 2007.

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Heath, Joseph. Filthy Lucre: Economics for People who Hate Capitalism. Toronto: HarperCollins, 2009. Chap. 12.

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Le Fanu, James. The Rise and Fall of Modern Medicine. London: Little, Brown, 1999. pp. 362-71.

Library copy

Marmot, Michael. "The Moral Imperative and the Bottom Line." Chap. 10 in Status Syndrome: How Your Social Standing Directly Affects Your Health and Life Expectancy. London: Bloomsbury, 2004.

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---. "Poverty enriched. " Chap. 3 in Status Syndrome: How Your Social Standing Directly Affects Your Health and Life Expectancy. London: Bloomsbury, 2004.

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---. "Some Are More Equal Than Others. " Chap. 1 in Status Syndrome: How Your Social Standing Directly Affects Your Health and Life Expectancy. London: Bloomsbury, 2004.

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Nagel, Thomas. "Equality and Motivation." Chap. 10 in Equality and Partiality. New York: Oxford University Press, 1991.

Library copies | E-book | Chapter

---. "Options." Chap. 11 in Equality and Partiality. New York: Oxford University Press, 1991.

Library copies | E-book | Chapter

Exploitation

Buchanan, Allen. Ethics, Efficiency, and the Market. Oxford : Clarendon, 1985. pp.87-95.

Library copies

Cohen, G. A. "Marxism and Contemporary Political Philosophy." Chap. 6 in Self-Ownership, Freedom, and Equality. Cambridge: Cambridge University Press, 1995.

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Miller, David. "Exploitation." Chap. 7 in Market, State, and Community: Theoretical Foundations of Market Socialism. Oxford: Oxford University Press, 1990.

Library copy | E-book | Chapter

Nozick, Robert. Anarchy, State, and Utopia. Oxford: Blackwell, 1975. pp. 253-62.

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Wertheimer, Alan. "Unfair Transactions." Chap. 7 in Exploitation. Princeton, N.J.: Princeton University Press, 1996.

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Freedom 1

Cohen, G. A. "Freedom, Justice, and Capitalism." Chap. 14 in History, Labour, and Freedom: Themes Fom Marx. Oxford: Clarendon Press, 1988.

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Also in New Left Review I 126 (1981): 3-16.

Library copies

Friedman, Milton. "The Relation Between Economic Freedom and Political Freedom." Chap. 1 in Capitalism and Freedom. 40th anniversary ed. Chicago: University of Chicago Press, 2002.

Library copies | E-book (1982 ed.)

Gibbard, A. "What’s Morally Special About Free Exchange?" Social Philosophy and Policy 2, no. 2 (1985): 20-28.

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Hayek, F. excerpt from "The Constitution of Liberty." In Liberty, edited by David Miller. Oxford: Oxford University Press, 1991.

Library copies

Also in The Liberty Reader, edited by David Miller. Boulder, Colo.: Paradigm Publishers, 2006.

Library copy

Parijs, Phillipe van. "Capitalism, Socialism, and Freedom." Chap. 1 in Real Freedom for All: What (If Anything) Can Justify Capitalism? Oxford: Clarendon Press, 1995.

Library copies | E-book | Chapter

Freedom 2

Cohen, G. A. "Are Disadvantaged Workers who Take Hazardous Jobs Forced to take Hazardous Jobs?" Chap. ? in History, Labour, and Freedom: Themes Fom Marx. Oxford: Clarendon Press, 1988.

Library copy

Feinberg, Joel. "Failures of Consent: Coercive Offers." In The Moral Limits of the Criminal Law. Vol. 3, chap. 24. New York: Oxford University Press, 1984-1988.

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Nozick, Robert. Anarchy, State, and Utopia. Oxford: Blackwell, 1975. pp. 262-5.

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Wilkinson, Stephen. "Coercion." Chap. 6 in Bodies for Sale: Ethics and Exploitation in the Human Body Trade. New York: Routledge, 2003.

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Wilkinson, Stephen. "Consent." Chap. 5 in Bodies for Sale: Ethics and Exploitation in the Human Body Trade. New York: Routledge, 2003.

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The minimum wage

Wilkinson, T. M. "The Ethics and Economics of the Minimum Wage." Economics and Philosophy 20, no. 2 (2004): 351-374.

Reference books

Reference databases

• Credo Reference
  Search social science or philosophy reference books in Credo Reference.
• Cambridge Collections Online
• Gale Virtual Reference Library
• Oxford Reference Online

Referencing information

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