Session 6: The Convergence Hypothesis and Anthropocentrism

Reading Assignment: Frederic Bastiat (1850) "That Which Is Seen, And That Which Is Not Seen"The Road to Serfdom - Friedridh Von Hayek. 

Video Assignment:Heaven on Earth: The Rise and Fall of Socialism (Part 2); Milton Friedman on Von Hayek's Road to Serfdom

Other Videos of Interest:Commanding Heights Episode Two: The Agony of Reform;

Homework Assignment:

1. Briefly describe's Bastiat's argment in "That Which is Seen and Unseen.

2. Explain how socialism grew worldwide and the various forms it assumed in different nations (be specific).

3. Explain the difference between socialism as it developed in Great Britain and communism in the former Soviet Union.

4. Describe how socialism and communism failed and how capitalism by comparison floursihed in the late 20th centurty.

5. What are the obvious problems with capitalism?

6. Explain the ideas of Friedrich Von Hayek from his book The Road to Serfdom in his words and from the perspective of Milton Friedman.