COURSE DETAIL
The course examines the political theory of finance, which investigates the broad normative and theoretical questions provoked by financial markets, institutions, and crises in contemporary societies. Large-scale financial intermediaries and global financial markets are reshaping capitalism, and these transformations raise fundamental issues of efficiency, fairness, inclusion, and democratic accountability in the design and functioning of finance. Topics include historical debates about usury and speculation, the contemporary philosophy of money and debt, the right to credit and to default, discrimination and credit ratings, systemic risk and collective responsibility, the challenges finance and central banking pose to democracy, and the potential for radical alternatives, ranging from cryptocurrencies to public finance.