Session 7 Economic Ethics: The Battle for the World Economy Part Three

Reading Assignment:  Etienne-Gabriel Morelly (1755) "Code of Nature," Frederic Engels (1880) "Utopian Socialism," "Dialectics" and "Historical Materialism" Karl Marx & Frederick Engels (1848) "The Communist Manifesto" p. 1-21. de Soto, Hernando (2000) The Mystery of Capitalism (first two chapters).

Video Assignment: Heaven on Earth: The Rise and Fall of Socialism (Part 3); Hernando de Soto - Interview; Hernando de Soto - Saving the World's Poor; Hernando deo Soto - People Have the Right to Buy and Sell; Hernando de Soto - The Economic Roots of the Arab Spring;

Other Videos of Interest:The Commanding Heights Episode Three;

Homework Assignment:

1. Differentiate between utiopain socialism as described by Engles and communism as described by Marx and relate both concepts to Morelly's "Code of Nature."

2. Summarize DeSoto's argument of why capitalism has not worked for the majority of the people in the world.

3. Explain what steps are needed to make capitalism work in the developing world.

4. Summarize the central tenets of utopian socialism.

5. What is the central theme of Marx and Engle's dialectics?

6. What does the term "historical materialism" mean and how would Marx deal with this?