Capitalism and Its Critics

Close-up of large bronze statues of Marx and Engels.

A sculpture of Karl Marx and Frederick Engels located in Fuxing Park in Shanghai, China. (Image courtesy of Kurt Groetsch.)


MIT Course Number


As Taught In

Fall 2006



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Course Highlights

This course features student papers in assignments.

Course Description

This course examines the implications of economic theories for social and political organization in the context of the historical evolution of industrial societies. Among the authors whose theories will be discussed are Ayn Rand, Milton Friedman, Karl Marx, Max Weber, Joseph Schumpeter, and John Kenneth Galbraith. Emphasis will be placed on class discussion of specific texts. Students will be encouraged to ground their views in concrete textual and empirical material and to consider the implications of different arguments for the understanding of personal, political, and economic events today.

Piore, Michael. 14.72 Capitalism and Its Critics, Fall 2006. (MIT OpenCourseWare: Massachusetts Institute of Technology), (Accessed). License: Creative Commons BY-NC-SA

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