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The Ethics of Capitalism (PHIL20044)
Undergraduate level 2Points: 12.5On Campus (Parkville)
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable (login required)(opens in new window)
Contact information
Semester 1
Overview
Availability | Semester 1 |
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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, and 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: 19 March 2024
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: 19 March 2024
Assessment
Description | Timing | Percentage |
---|---|---|
Essay
| Mid semester | 50% |
Essay
| During the examination period | 50% |
Hurdle requirement: 1. Attendance hurdle requirement: This subject has a minimum requirement of 80% attendance at tutorials, seminars, or workshops. There is an expectation that students attend lectures. | Throughout the teaching period | N/A |
Hurdle requirement: 2. Late Penalty and Assessment hurdle requirement: Assessment submitted late without an approved extension will be penalised at five per cent (5%) of the possible marks available for the assessment task per day or part thereof. All pieces of assessment must be submitted to pass the subject. Each submitted assessment must be complete, constitute a genuine attempt to address the requirements of the task and will not be accepted after 20 University business days from the original assessment due date without written approval. | Throughout the semester | N/A |
Last updated: 19 March 2024
Dates & times
- Semester 1
Principal 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 26 February 2024 to 26 May 2024 Last self-enrol date 8 March 2024 Census date 3 April 2024 Last date to withdraw without fail 3 May 2024 Assessment period ends 21 June 2024 Semester 1 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: 19 March 2024
Further information
- Texts
Prescribed texts
Students will advised of the details of the precribed textbook at the start of semester.
- Related Handbook entries
This subject contributes to the following:
Type Name Major Philosophy Major Major Philosophy - 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.
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
This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.
Last updated: 19 March 2024