A great intellectual historical look at capitalism

Professor Muller exquisitely weaves the historical dialectic between the eminent thinkers of capitalism with the contexts surrounding it. He evenhandedly addresses each thinker and elucidates why each one was so influential. You will come away with a more nuanced view of capitalism after listening to this course. Leftists will move right and rightists will move left. Prof. Muller constantly intrigues with his knack for storytelling and explication of ideas, never allowing for a boring moment. Highly recommended.

17 people found this helpful

Dazzling and Essential

This course is a juggernaut. Every chapter feels like a precious jewel has been revealed. The professor is a whirlwind and is able to delicately weave complex themes together. The substance and lessons of this course are indispensable to understanding the world we leave in, historically, politically, economically, culturally, philosophically, etc.

Bravo, a hundred times.

12 people found this helpful

Overlooks too much about damage being done

Income inequality, concentration of wealth and power, unsustainable use of natural resources, focusing on monetary value market places on only selected aspects of total costs to society (avoiding any externalities), exploitation of indigenous peoples and planet, etc. None of these are given space in course despite the availability of the data, empirical research and obvious extent of damage being done.

Since capitalism’s success measures dollars spent causing climate change or on vacuous TV/entertainment the same as dollars spent more productively or environmentally neutrally, do we need a course ignoring capitalism’s significant contribution to the world’s real issues?

10 people found this helpful

Deep look at Capitalistc thinking

Digs beneath the usually invoked capitalistic thinkers of Smith and Marx to other intellectuals over the years who have added to the dialogue of talking about Capitalism. The lectures also go beyond the economic and political impacts to discussions on the impact on family dynamics.

9 people found this helpful

Excellent.

Profoundly interesting storytelling not only about capitalism but also history itself. I have started listening to this for the third time now. Filled with substance.

7 people found this helpful

Fantastic

If you could sum up Thinking about Capitalism in three words, what would they be?

Clear concise survey

What was one of the most memorable moments of Thinking about Capitalism?

Overview of Smith, Burke and Voltaire

What does Professor Jerry Z. Muller bring to the story that you wouldn’t experience if you just read the book?

Anticipation-- economics can be wearisome but the narration made it come alive

What’s the most interesting tidbit you’ve picked up from this book?

How poignant Marx and Marcuse can appear-- if you take them out of context.

Any additional comments?

I intend on listening to this lecture several times. I wish there was companion material

7 people found this helpful

The best introduction to capitalism one could hope for!

I came at this book with almost no background in economics and understood near perfectly what the professor was putting across. Just wished I had such an engaging mentor during my school days.

If you’ve ever wondered whether capitalism is the culprit behind all the “instability” in the developed world today, there are answers here, though not direct or easy ones. If you think you’d be better off with communism or socialism, you most definitely won’t, and that’s explained here, too.

And if you’re thinking of spending a credit on this title to learn something new that isn’t in the least bit related to your current job or course of studies, you’re a happy participant and beneficiary of this imperfect but thus far unmatched economic system. Heck, you may even proudly call yourself a Capitalist! Who knew?

5 people found this helpful

A terrific tour of the ideas behind capitalism

This one of the best great courses I've listened to. The Professor surveys how different people at different times and places have thought about trade and property, starting from the end of the middle ages up through the modern welfare state. Each lecture is devoted to an individual thinker. Some highlights include Friedrich Hayek, Joseph Schumpeter, Karl Marx, and the incomparable Adam Smith. If you're interested in how and why economies work the way they do and the effects of our economic systems on individual lives, this course is for you. Five stars.

5 people found this helpful

Excellent

Clear presentation of the subject, with a balanced approach to not only the problems of capitalism, but also the many benefits it has brought. Should be required reading for all politicians, especially Democrats.

4 people found this helpful

CAPITALIST SELF-INTEREST

Professor Muller offers an interesting and insightful defense of capitalism. Jerry Muller’s “Thinking about Capitalism” is an historical account of economic theory.

Muller notes that capitalism is pummeled by many anecdotes of history. Muller does not deny the excesses of capitalism, but Muller suggests societal benefits from capitalism far exceed its detriments. He explores market, command, and mixed economic systems. In his journey through the history of economic systems, capitalism shines brightest.

Muller argues capitalism’s storied failures distort its multifaceted values. In the “Wealth of Nations”, a seminal work on capitalism, Adam Smith clearly explains the value of a capitalist (market) economic system is based on self-interest. Muller notes Smith’s use of the term self-interest is often misinterpreted by the public as greed.

Self-interest comes in many forms. One person’s self-interest may be altruistic in helping others to feel better about themselves. Another person’s self-interest may be to increase personal wealth to improve their family’s standard of living. Smith’s definition of self-interest is founded on virtue; i.e. behavior based on high moral values. The fundamental point is that everyone’s self-interest is a motivation that is ungoverned by an outside force. Self-interest is a part of human nature.

Fundamentally, Muller infers no modern economic system is better than capitalism. One draws that inference by Muller’s cogent explanation of the value of capitalist self-interest. Because Adam Smith’s concept of self-interest is an inborn characteristic of human nature, it will prevail over any economic system that requires command control. America has been a successful capitalist country in great part because of checks and balances that mitigate command control qualities of mixed economies. Hobbes assessment of human nature demands some level of command control; even in a capitalist economy.

One might argue that America’s avoidance of near economic collapse in 2008 is evidence of the importance of a mixed economic theory. (Interestingly, a December 18, 2018 “…Economist” article, written by Schumpeter, notes that China’s communist party control of businesses during Trump’s trade war have fared better than private businesses.)

3 people found this helpful