Signature Assignment for Econ/PA/Phil/PPEL 205
Topic for the Paper
Is Thomas Picketty right that political societies should “transcend capitalism”? Critically evaluate some aspect of his argument for this position.
Due Date/Time: The paper must be uploaded to the appropriate folder on our courses D2L site by 11:59pm MST, Monday, 12/16.
Note that your final exam is also due on this day.
Length: Approximately 1500 words
Outside Research Requirement:
In writing your paper, you should connect your analysis to materials from our course (readings, lectures, etc.), but you ALSO must make reference to at least two outside sources. These might include online articles from reputable news outlets, academic articles found through the University of Arizona library, or reports of statistical information from government agencies (e.g. the U.S. Dept. of Labor) or other reputable sources (e.g. The Pew Research Center). These sources can be used to help to further substantiate a key idea, to fill in a gap in an argument, to help develop an objection to an argument, or to help develop a response a possible objection, etc. There are lots of possibilities.
Building Connections Requirement
In the course we have examined arguments for/against various aspects of capitalism (private property, free markets, the hierarchical firm) from a variety of perspectives:
Sometimes theorists have proceeded as ECONOMISTS, evaluating institutions in terms of whether they are likely to generally promote human welfare for members of society, given the information constraints members of society face, and given the incentives afforded by these institutions. For example, in module 7, we examined Friedrich Hayek’s defense of the price system, in terms of the value of general welfare, given the information constraints faced by market participants and the incentives afforded by the price system. And, for example, in module 5 David Schmidtz argued for the institution of private property based on the general social benefit of this institution (in averting tragedies of the commons), given the incentives generated by institutions of private property and the information constraints faced by members society.
Sometimes theorists have proceeded as PHILOSOPHERS, asking about what institutions are right and just or realize other important values. Thus, for example, in module 4, John Locke argued for private property, based on the idea that we own ourselves, and so own what we create through our own activity. And, for example, in module 2 we examined Marx’s criticism of capitalism, that members of society are alienated (under capitalist institutions) from their species being. And, in the past few modules we have examined Thomas Picketty’s argument that societies have to transcend capitalism if they are to be just.
In your essay, build connections between the perspectives of philosophy and economics by considering these perspectives in framing Picketty’s argument for transcending capitalism and in your critical evaluation of Picketty’s argument.
Just as an example: Suppose you decided to focus in your essay on Picketty’s proposal for educational reform.
Then, in part 4 of your essay (see below), it would be important to say why, according to Picketty, the reforms he is proposing can be vindicated both from the standpoint of philosophy (as just) and from the standpoint of economics (as compatible with the incentives and information constraints that parents, teachers, and students face within a society’s system of education).
And then, in part 5 of your essay (see below), you would go on to critically evaluate some aspect of Picketty’s argument. Is he correct that his proposal is just? Is he correct that it is compatible with the incentives of participants in the system of education? Or is he his proposal flawed on one or both counts?
*** This is just an example. I assume that most students in the course will choose to focus on some other aspect of Picketty’s proposal for transcending capitalism.
How to Structure Your Paper
Please respond to this question in a 6 part essay following the structure outlined below.
Please note that this is an ESSAY, so include appropriate transitions between paragraphs, and include a TITLE for your essay.
Also, you are NOT limited to one paragraph for each of the parts. Depending on how you organize things it may make most sense to use more than one paragraph for some of these parts.
In the first part, introduce your topic and the main thesis that you will be defending.
In the second part, explain what “capitalism” means in the context of your essay. Jerry Gaus’s analysis of capitalism (module 8) may prove useful for this purpose.
In the third part of your essay, say what Picketty means by “transcending capitalism.”
In the fourth part, present Picketty’s argument for transcending capitalism.
*** In this part you CAN focus on presenting Picketty’s argument for ONE element in his participatory socialism (the wealth tax, the basic income, the carbon tax, the educational reform, etc.) If you choose to focus on one element then this should ALSO be reflected in your FIRST PART (i.e. you should state there something like, “In this essay I will be discussing Picketty’s proposal for transcending capitalism, and will focus specifically on his idea that…)
***In the fourth part be sure to present Picketty’s argument BOTH in terms of values of justice (see pp. 967-971 for Picketty’s general account of justice) and in terms of incentives faced by and information possessed by person’s in society (though note here: in some cases, depending on the element you focus on, Picketty doesn’t address this directly (is that a problem?!?! if so that might be something to bring up in Part 5!!!) but rather notes that there is historical evidence that societies adopting something in the ballpark of his proposal have functioned well.
In the fifth part, critically evaluate some aspect of Picketty’s argument.
Here be sure you focus on at least one (and it can be just ONE) part of what you have presented in part 4. You have a lot of latitude here. You could argue that Picketty is mistaken in some important respect. You could argue that his account has left out something of importance. You could argue that his account is unclear in an important respect. You could argue that his proposals might work in some cases but not in others. You could argue that a certain proposal would only work if it was changed in some important respect. Or you could argue that his account violates certain fundamental rights (or alternatively is plausible way of protecting certain fundamental rights).
In the sixth part, conclude.
References/Citations
This is a research paper, so include a References/Works Cited page at the end of your essay. This should any articles, readings, or videos from our course that you cite, and the works you use to satisfy the Outside Research Requirement.
Also, in addition to including a References/Works Cited page, include inline citations in the body of your essay for any quotations, close paraphrases, or to substantiate key ideas.
You are free to use any standard bibliographic style for your works cited/references page and inline citations.
Rubric
Each part of the assignment will count for a portion of the grade, as follows:
1st – 5%
2nd, 3rd, and 4th – 20% each
5th – 30%
6th – 5%
The assignment will be graded for:
Completeness: Be sure to answer each aspect of the question asked.
Accuracy: Be sure to accurately explain Picketty’s position and argument.
Organization: Your essay follow the 6 paragraph structure outlined above.
Clarity: Your ideas should be clearly expressed and the reader should be able to easily follow your train of thought. Avoid convoluted sentences. Write concisely.
Engagement/Insight: Your essay should engage deeply with your chosen topic, and, especially in the critical section (part 5) show a deep understanding of the relevant ideas.
Grammar: Your essay should contain no grammar or spelling mistakes.
Length: The assignment should be at least 1200 words long. There will be no penalty for assignments that go longer than the suggested approximate word count.
References/Citations: Assignments that don’t follow the outside reference requirement will lose 10% and failure to include incline citations as appropriate will be penalized 5%.