Students will examine the socio-political implications of economic theories for organizations in the framework of the historical evolution of industrial economies. Students will discuss the theories of the following thinkers: Milton Friedman, Ayn Rand, Max Weber, Karl Marx, John Kenneth Galbraith, and Joseph Schumpeter.
- Understand the implications of economic theories for social and political organization in the context of the historical evolution of industrial societies.
- Be able to address the evolution of the modern capitalist economy and evaluates its current structure and performance.
- Compare and contrast various paradigms of economics (neoclassical, Marxist, socioeconomic, and neocorporate) in order to understand how modern capitalism has been shaped and how it functions in today’s economy.