The purpose of this course is to help you understand, predict, adapt to and shape the evolving world of political economy. If you don’t, others will—and not necessarily to your well-being.
The structure of the course is as follows. Day one examines the theoretical foundations of modern political economy laid by four grandmasters, Adam Smith, Karl Marx, John Maynard Keynes, and Milton Friedman, each of whom has been widely misunderstood or, worse yet, falsely interpreted by intellectual charlatans. Day one sets the record straight and examines their contemporary relevance.
Days two and three are concerned with the evolution of American political economy. Major topics include the rise and decline of the state-centric and market-centric periods in the post-WWII era, the rise of populism, the election of Donald Trump, and America’s prospects.
The focus shifts to international political economy in days four and five. Major topics include the development of the American-led international order in the post-WW II period, the radical redistribution of global power in the post-Brexit, post-Trump period, and the prospects for order in a world where the U.S. plays a vastly diminished role.
Frank R. Lautenberg Professor Emeritus of Ethics and Corporate Governance
Professor Horton teaches the popular elective course Modern Political Economy. A member of the Columbia Business School faculty since 1970, he served two years while on leave from the School as Executive Director of the Temporary Commission on City Finances during the New York City fiscal crisis, and later served 15 years as Director of Research and President of the Citizens Budget Commission. His publications on...