The Ethics of Capitalism (PHIL20044)
Undergraduate level 2Points: 12.5On Campus (Parkville)
To learn more, visit 2023 Course and subject delivery.
About this subject
Contact information
Semester 2
Overview
Availability | Semester 2 |
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Fees | Look up fees |
Just about any problem in the world is frequently blamed on capitalism: inequality, wage stagnation, consumerism, climate change, precarious work, unemployment, high rent and latte prices – you name it! Capitalism has a clear image problem, but is it really the root of all evil? And what is capitalism anyway?
In this subject, we’ll start by taking a look at major figures of liberal political philosophy (Adam Smith, John Stuart Mill), and their defence of capitalism as a route to a more just and efficient society. This approach will lead us to challenge the familiar conflation of capitalism with unadulterated laissez faire economics, reconsider the extent to which current societies really are purely capitalist.
With a theory of why capitalism can be a force for the good in hand, and turning our attention to contemporary authors, we’ll be able to come to a more sophisticated perspective on what’s wrong with central economic aspects of contemporary society and what ought to be done about them. We’ll ask whether it’s fair for the Australian government to force people to take jobs they don’t want while others inherit larger fortunes tax-free, whether employers have power over workers akin to authoritarian dictators, whether it should be illegal to sell human organs to save lives, and what role the assessment of capitalism should have in coming to terms with the history of colonialism in Australia and elsewhere. Last but not least, we’ll examine the role of markets in generating and distributing the coronavirus vaccine we desperately need, and what ought to be done to address the economic consequences of the pandemic.
Intended learning outcomes
Students who successfully complete this subject will:
- Gain a familiarity with a variety of core texts in political philosophy relevant to the moral foundations of capitalism, and be able to both interpret and evaluate their main arguments
- Be able to understand a number of concepts that arise in moral arguments about capitalism, including exploitation, freedom, competition, ownership, and equality
- Learn how to defend, and not just coherently state, one's own position with regard to controversial questions in political philosophy
- Gain an understanding of how topics in political philosophy overlap with the subject matter of other disciplines, especially economics
- Work individually, and in groups, to clarify problems, apply reasoning techniques to different issues, and to critically evaluate the results.
Last updated: 14 March 2025
Eligibility and requirements
Prerequisites
None
Corequisites
None
Non-allowed subjects
None
Recommended background knowledge
Code | Name | Teaching period | Credit Points |
---|---|---|---|
PHIL10002 | Philosophy: The Big Questions | Semester 1 (On Campus - Parkville) |
12.5 |
PHIL10003 | Philosophy: The Great Thinkers | Semester 2 (On Campus - Parkville) |
12.5 |
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 14 March 2025
Assessment
Description | Timing | Percentage |
---|---|---|
Essay
| Mid semester | 50% |
Essay
| During the examination period | 50% |
Hurdle requirement: Students must attend a minimum of 75% of tutorials in order to pass this subject. All pieces of written work must be submitted to pass this subject. | Throughout the teaching period | N/A |
Additional details
Note: Assessment submitted late without an approved extension will be penalised at 10% per day. After five working days late assessment will not be marked. In-class tasks missed without approval will not be marked.
Last updated: 14 March 2025
Dates & times
- Semester 2
Coordinator Daniel Halliday Mode of delivery On Campus (Parkville) Contact hours 35 hours - 2 x 60 minute lectures each week and 1 x 60 minute tutorial in weeks 2-12 Total time commitment 170 hours Teaching period 24 July 2023 to 22 October 2023 Last self-enrol date 4 August 2023 Census date 31 August 2023 Last date to withdraw without fail 22 September 2023 Assessment period ends 17 November 2023 Semester 2 contact information
Time commitment details
170 hours
What do these dates mean
Visit this webpage to find out about these key dates, including how they impact on:
- Your tuition fees, academic transcript and statements.
- And for Commonwealth Supported students, your:
- Student Learning Entitlement. This applies to all students enrolled in a Commonwealth Supported Place (CSP).
Subjects withdrawn after the census date (including up to the ‘last day to withdraw without fail’) count toward the Student Learning Entitlement.
Last updated: 14 March 2025
Further information
- Texts
- Related Handbook entries
- Breadth options
This subject is available as breadth in the following courses:
- Bachelor of Biomedicine
- Bachelor of Commerce
- Bachelor of Design
- Bachelor of Environments
- Bachelor of Fine Arts (Acting)
- Bachelor of Fine Arts (Animation)
- Bachelor of Fine Arts (Dance)
- Bachelor of Fine Arts (Film and Television)
- Bachelor of Fine Arts (Music Theatre)
- Bachelor of Fine Arts (Production)
- Bachelor of Fine Arts (Screenwriting)
- Bachelor of Fine Arts (Theatre)
- Bachelor of Fine Arts (Visual Art)
- Bachelor of Music
- Bachelor of Science
- Links to additional information
- Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Please note Single Subject Studies via Community Access Program is not available to student visa holders or applicants
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
- Available to Study Abroad and/or Study Exchange Students
Last updated: 14 March 2025