PE101 Role of Scarcity in Contemporary Political Economy Argumentative Paper


Question Description

The paper asks to write an argumentative paper about the role of scarcity in a specific problem of contemporary political economy—a problem at the intersection of markets, states, and societies since 1990—using at least THREE theorists from our course to help you analyze it. Puts theorists in conversation with your problem as well as each other.

The specific paper instruction is attached. There's also another file that lists the theorists included in this class.

The three theorists in this paper must be additional to Polanyi, Keynes, Hayek, and Milton Friedman. (these four are optional, but there must be three other theorists.)

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PE 101 SPRING 2019 Term Paper: The Challenges of Scarcity in Contemporary Markets, States, & Societies Due at Midnight on bcourses on Monday, APRIL 29 Political Economy has been defined as the study of the management of scarce resources. Of the two questions at the root of political economy, David Ricardo’s question (“Who gets what?) came to dominate the field in the 19th and 20th centuries at the expense of Thomas Malthus’s question ("How much is there?”) so long as the world appeared to have an inexhaustible supply of resources. In 1930 John Maynard Keynes imagined a world one hundred years in the future where a more prudently managed abundance would serve the interests of all humankind, where we would strive to “make what work there is still to be done to be as widely shared as possible,” and where no-one would have to work more than “three-hour shifts or a fifteen-hour week.”1 But as the world’s population grows past 7.5 billion and climate change puts the carrying capacity of the planet under increasing strain, Malthus’s question will probably be more relevant than ever in 2030. Your task is to write an argumentative paper about the role of scarcity in a specific problem of contemporary political economy—a problem at the intersection of markets, states, and societies since 1990—using at least THREE theorists from our course to help you analyze it. There are at least four different arenas in which you might look for scarcity: 1. 2. 3. 4. THINGS & ACTIVITIES: Scarcity of resources, services, land, labor, or capital; KNOWLEDGE: Scarcity of information or facts; FEELINGS: Scarcity of trust or confidence; RELATIONS: Scarcity of representation (in democratic states) or competition (in markets) Writing of “The Crisis that Never Was” in Carbon Democracy, Timothy Mitchell reminds us that perceived or imagined scarcity in our anxious and uncertain world (also fair game for your paper) might in some instances be more significant than the real fact. 1. To write this paper, you will first need to formulate a question about a specific problem of scarcity that interests you at the intersection of markets, states, and societies. Your answer to this question will be your thesis. In order to formulate a good question you must first do some research into this problem, drawing from AT LEAST TWO scholarly sources that are not on our syllabus (books or scholarly articles written within the last fifteen years by different authors). Newspaper articles do not count as these sources. These sources will help you find out the most up-to-date and relevant information you will need to understand the background, context, and details of your problem. The more specifically you can ground your research on a particular event the closer you will be to having a workable thesis question. 1 John Maynard Keynes, “Economic Possibilities for our Grandchildren (1930),” in Essays in Persuasion (New York: Harcourt Brace, 1932), 358-373 1 2. Next you will need to apply the perspectives of THREE theorists from our course to help you analyze your chosen problem. These theorists should be contemporary theorists, i.e. rising to prominence after the Second World War. While you are welcome to draw upon the work of Polanyi, Keynes, Hayek, and/or Milton Friedman in formulating your argument and your analysis, your use of these figures must be in addition to the three main ones you will use to inspire and guide your analysis. Look ahead to the titles of future weeks in trying to identify the most relevant theorists for analyzing your chosen problem. Though you are expected to do some research for this paper, remember that this is first and foremost an argumentative paper. To do well on this paper you should have a strong, clear, and provocative argument that puts your theorists in conversation with your problem as well as each other. How do you know if your argument is interesting? A good start is to try to imagine a plausible counterargument. If you can, then you are on the right track. If you cannot, your argument is probably overly simplistic or uncontroversial (NOT a good thing for an argumentative paper!) Format: Your paper should be between 2000 and 2500 words. In order to help with grading, please include the total word count. In addition, be sure to include your full name and section number on each page as well. Using Chicago Manual Style, you should include both footnotes & a bibliography in which you list all the works you have consulted in writing your paper (this should include all three theorists you intend to you as well as the outside scholarly readings). Interim Due Dates: Your GSI will decide how to implement these, but everyone should seek approval on your proposed topic from your GSI before you get too deep into investigating it. 1. Term Paper Question & Bibliography Due: February 28th 2. Argument & Thesis Paragraph Due: April 4th Please consider making an appointment with the SLC (Student Learning Center) for help when you enter the drafting phase of writing your paper: Here are some common pitfalls of student papers. Try to anticipate & avoid these! “Your problem is too broad. You need a more focused topic.” “Your analysis is superficial, it lacks depth/substance.” “You do not have a clear thesis.” or “Your thesis is weak.” “Your evidence does not relate to your thesis.” “You have represented a theorist’s ideas incorrectly.” Academic Honesty: Plagiarism I wish I did not need to write this final paragraph, but every semester we catch students trying to pass off work by other people as their own. If you use another author’s ideas, please cite properly. Plagiarized assignments will receive an automatic F, result in a formal incident report to the Center for Student Conduct, and may, depending on the severity of the infraction, result in a failing grade for the entire course. More information on what constitutes plagiarism is available from the UC Berkeley Campus Code of Student Conduct: If you have any doubts about whether you are in danger of plagiarizing something, please check with your GSI or me before you turn in your final draft. Whatever you do, don’t plagiarize! 2 PE 101 Contemporary Theories of Political Economy Spring 2019 Syllabus David Beecher Lectures: TuTh 11 – 12:30 pm 2060 Valley Life Sciences Office Hours: Tu 6–7 pm & W by appt. Café Milano GSIs and Sections: Amber Herkey 101 104 Mon Mon 3–4 pm 12–1 pm 108 Wheeler 587 Barrows Matt Fondy 102 106 Mon Fri 3 – 4 pm 10 – 11 am 155 Barrows 20 Wheeler Eric Johnson 103 105 Wed Fri 10 – 11 am 1 – 2 pm B5 Hearst Field Annex B1 Hearst Field Annex OVERVIEW This course introduces students to some of the major questions of political economy, development, and globalization from Postwar Keynesian Consensus through the rise of Neoliberalism to the Global Recession of 2008. What role should government play in the market? Do firms have a social responsibility? What policies and institutions stimulate economic development, and how is economic development related to politics? How much power should be vested in international institutions as opposed to the nation-state? When do international trade and investment create relationships of dependency and exploitation? What is the relationship between environmental and labor rights and the desire for economic growth? Over the course of the semester we will learn how intellectuals from a variety of disciplines have approached these questions since 1944, paying particular attention to the relationship between theorists and their historical context. In the first half of the course we will examine the relationship between markets, states, and societies in liberal discourse and its critics. In the second half of the course we will explore trends, conflicts, and crises in international development and globalization. PE 101 has the following pedagogical goals: Through this course, students will: 1. 2. 3. 4. Understand the key theories of contemporary political economy. Learn the history and political contexts in which these contemporary theories emerged. Identify links between political economy, international development, and globalization. Recognize how theories of political economy inform current issues in the world today. 1 of 10 REQUIRED TEXTS Friedman, Milton. Capitalism and Freedom: Fortieth Anniversary Edition. Chicago: University of Chicago, 2002. Harvey, David. A Brief History of Neoliberalism. Oxford: Oxford University Press, 2005. Mitchell, Timothy. Carbon Democracy: Political Power in the Age of Oil. London: Verso, 2011. Polayni, Karl. The Great Transformation. The Political and Economic Origins of Our Time. Boston: Beacon Press, 2001 Rodrik, Dani. The Globalization Paradox: Democracy and the Future of the World Economy. New York: Norton& Company, 2011 Course Reader (2 Volumes) – You can purchase the readers at University Copy, 2425 Channing Way (marked with a * on the syllabus). For texts (and films) to be found online internet addresses are provided. COURSE REQUIREMENTS AND POLICIES Lecture Attendance and Readings: Students are expected to attend lectures regularly and to complete biweekly reading assignments. The lectures will introduce the readings and place them in wider historical context. Doing well on the examinations and term paper assignment will require attending lectures and keeping up with weekly readings. Discussion Sections: Students are required to attend and participate in weekly discussion sections led by the GSIs. Attendance and participation in discussion sections will have a direct impact upon final grades. Absences beyond 2 will result in the subtraction of 1 percentage point per absence from the students course grade. Term Paper: Each student is expected to write an eight- to ten-page paper over the course of the semester. A specific assignment description will be provided. On the date that the paper is due, it must be submitted in the form and by the time indicated by your GSI. Exams: There will be two exams: a midterm and a final. The exams will have short-answer as well as essay-style questions. These questions will require knowledge of the course material and the capacity to analyze various theories and perspectives. Please check the dates of the examinations, particularly the final examination. All students are expected to take the exams on these dates and exceptions will not be granted. Grading Structure: Section Participation & Citizenship Exam In Class, Tuesday March 12th Term Paper bCourses, Monday before midnight April 29th Final Exam Thursday, May 16th, 8 – 11 am 20 % 25 % 25 % 30 % This class uses a relatively standard grading schema. All assignments, and final grades, will be computed using the following grading scheme: A+ ≥ 98% 98 > A ≥ 93 93 > A- ≥ 90 90 > B+ ≥ 87 87 > B ≥ 83 83 > B- ≥ 80 80 > C+ ≥ 77 77 > C ≥ 73 73 > C- ≥ 70 (and so on) 2 of 10 Grade Disputes: Students who wish to dispute grades on an assignment must do so in writing. Grade disputes must be submitted no sooner than 24 hours after receiving your grade, but within one week. Any dispute should outline very specifically why you think that there is an error and it should not contain information about what grades you usually get or how long you spent on the assignment. Please note that grades may be lowered after review. Email: Do not expect me to respond to last minute emails before assignments are due or before exams! Substantive questions should be saved for section or office hours. Please note that this is a very large class – do not expect long or detailed email responses. Academic Honesty: This is a course designed to provoke critical thinking. While I encourage study groups and working together to understand course material, all written work should be your own. Please do not use other students’ work for your assignments. If you cite an author or use his/her ideas, please cite properly. Plagiarized assignments will receive an F. More information on what constitutes as plagiarism is available from the UC Berkeley Campus Code of Student Conduct: If you have any further questions, please ask. Electronic Technology Policy: Computers (laptops, phones, tablets etc.) are not allowed in lecture. Please turn these off and put them away. The temptation to surf the web is too great. This is distracting to everyone sitting around you and it is blatantly disrespectful to me. If you would rather surf the web, please stay home. Students who fail to comply with this simple request will be asked to leave. Research shows that students who take notes by hand have a better understanding of what they write down. It also helps them to become more active (and effective) learners. Special Needs / Accommodations for Disabled Students: In order to receive DSP accommodations you need to have a letter sent to me and notify your GSI as early as possible, no later than two weeks before the midterm. I am committed to creating a learning environment welcoming of all students. If an unexpected personal or medical challenge is interfering with your ability to complete assignments and/or attend class it is your responsibility to contact me as early as possible. 3 of 10 COURSE SCHEDULE MARKETS, STATES, & SOCIETIES LIBERAL CAPITALISM & THE FOUNDATIONS OF MARKET SOCIETIES Week 1 Jan. 22 Introduction: The End of History? Liberal Capitalism & the Great Recession Dani Rodrik (2011) The Globalization Paradox, Chapter 1 Wendy Brown (2017) interview about her book, Undoing the Demos: Jan. 24 Birth of Laissez-Faire: From Classical Liberalism to Neoclassical Economics Dani Rodrik (2011) The Globalization Paradox, Chapter 2 Karl Polanyi (1944) The Great Transformation: The Political and Economic Origins of Our Time, Chapter 1 Adam Smith (1976) 1.1., 1.2, 1.3 in The Wealth of Nations: David Ricardo (1817) Chapter 7 in Principles of Political Economy and Taxation: Question: Why do Smith and Ricardo believe the market is self-regulating? What role does this belief play in Polanyi’s “nineteenth century civilization”? Week 2 Jan. 29 End of Laissez-Faire: Market Failure & Keynesian Planning Karl Polanyi (1944) The Great Transformation: The Political and Economic Origins of Our Time, Chapter 2 *John Maynard Keynes (Quotes) *John Maynard Keynes (1926) “The End of Laissez Faire” *Paul Krugman (2007) “Introduction to General Theory” in John Maynard Keynes, The General Theory of Employment, Interest and Money. *John Maynard Keynes (1935) The General Theory of Employment, Interest and Money, Chapter 12: "The State of Long-term Expectation" Question: What was the Great Depression and how did it lead to the abandonment of the Gold Standard and the rise of Keynesianism? Jan. 31 The Liberal State & the “State of Exception” *Friedrich Hayek (1944) The Road to Serfdom, Chapters 1-3, 7, 14. *F.A. Hayek, "The Use of Knowledge in Society," The American Economic Review, Vol. 35, No. 4 (Sep. 1945), pp. 519–530. *Carl Schmitt, “Definition of Sovereignty” in Political Theology (including George Schwab’s Introduction) Question: According to Hayek, what are the advantages of a liberal state? According to Schmitt, what are its limitations? 4 of 10 Week 3 Feb. 5 Neoliberalism: Rational Man, Monetarism, and the Free Market Dani Rodrik (2011) The Globalization Paradox, Chapter 3 Milton Friedman (1962) Capitalism and Freedom, Chapters 1–3, 5-6, 11. Question: Does Friedman believe that political freedom leads to economic freedom, or vice versa? Why? Feb. 7 The World Economy in the 20th Century: Between Markets & Planning In Class Film (2002) Commanding Heights: The Battle for the World Economy, Episode 1 “Battle of Ideas":; George Monibot, “Don't let the rich get even richer on the assets we all share,” The Guardian, 27. Sept. 2017: Question: How is the “Battle of Ideas” of the twentieth century a battle between politics and economics? What is left out of this version of the “Battle"? PROBLEMS WITH LIBERAL CAPITALISM Week 4 Feb. 12 Embedded Liberalism: the Self-Protection of Society & Keynesian Consensus Dani Rodrik (2011) The Globalization Paradox, Chapter 4 Karl Polanyi (1944) The Great Transformation: The Political and Economic Origins of Our Time, Chapters 4, 6, 11, and 12. Elinor Ostrom: 8 Rules for Managing a Commons & Book Review: ü ü Question: How is the market "embedded” according to Polanyi? And how does this help explain the Keynesian Consensus? Feb. 14 Liberal Critiques: Markets & Industry in the Affluent Society *John K. Galbraith (1967) The New Industrial State, Chapter 19. *John K. Galbraith (1958) The Affluent Society, Chapters 9-11, 17. Question: How has industry changed the market system in the 20th century? Week 5 Feb. 19 The Market & the Business Cycle: Disorder, Chaos & Crisis *Charles Kindleberger and Robert Aliber (1978, 2011) Manias, Panics, and Crashes: A History of Financial Crises, Chapters 1-2. *Hernando de Soto (2000) The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else, Chapter 1 & Rebuttal *Regine Spector (2017) Order at the Bazaar: Power and Trade in Central Asia, Chapter 1 & Conclusion Question: Are the problems of capitalism problems with markets? 5 of 10 Feb. 21 Homo Economicus: How Rational is Rational Man? *Richard Thaler and Cass Sunstein (2009) Nudge: Improving Decisions about Health, Wealth, and Happiness, Introduction, Chapter 4. *Gary Becker, "Nobel Lecture: The Economic Way of Looking at Behavior," The Journal of Political Economy, Vol. 101, No. 3 (Jun., 1993), pp. 385–409. *Wendy Brown (2015) Undoing the Demos: Neoliberalism's Stealth Revolution, Chapters 1 & 3. Question: Are the problems of capitalism problems with the human individual? Week 6 Feb. 26 The Modern Corporation In Class Film (selections): The Corporation Milton Friedman (1962) Capitalism and Freedom, Chapter 8 *Peter Drucker (1974, 2001) “The Purpose and Objectives of Business” in The Essential Drucker. *Alfred Chandler Jr. (1977) The Visible Hand: The Managerial Revolution in American Business, Introduction and Conclusion. Question: Are the problems of capitalism problems with the modern corporation? Feb. 28 Creative Destruction: Entrepreneurs and the State *Joseph Schumpeter (1942) Capitalism, Socialism, and Democracy, Chapters 5-7. *Mariana Mazzucato (2014) The Entrepreneurial State: Debunking Public vs. Private Sector Myths, Introduction, Chapters 1, 9-10. Question: Can the state be an entrepreneur according to Schumpeter and/or Mazzucato? Why or why not? Turn in Term Paper Question & Bibliography to your GSI Week 7 Mar. 5 Capital Accumulation: From Markets to Monopolies *Immanuel Wallerstein (1991) “Braudel on Capitalism, or Everything Upside Down,” pp. 354–361 *Paul Sweezy (1972, 2009) “Modern Capitalism” and “On the Theory of Monopoly Capitalism” in Modern Capitalism and Other Essays. *Karl Marx (1847) Wage, Labour and Capital (edited version in the Marx-Engels Reader). Question: Is capitalism ultimately a sys ...
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Running head: ROLE OF SCARCITY


Role of Scarcity
Institution Affiliation
Instructor’s Name
Student’s Name
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The role of Scarcity in a political economy: Things and Activities
The political economy plays various positions in the economy that facilitate the
operations and creativity in the economy, majority of the players is forced to utilize the available
resources to grow and improve their current market positions so that they can generate adequate
income. Therefore, one should note that political economy discusses trade activities, and their
relationship with the laws, government and the customs. Such practices enhance the distribution
of national income and wealth to various regions in the economy.
Further, the moral economy plays a significant role in the creation and establishment of
the political economy discipline because various scholars have tried to establish theories in
which they discuss the role of scarcity in a political economy. Therefore, the question one should
ask is that, why are things and activities scarce in a political economy? What can be done to
ensure resources, services, and factors of production are increased in the economy? Are the laws
governing market operation regulating or monitoring scarce resources in the market? Such
questions help to establish a thesis for the paper where one can major the discussion to explain in
depth on the roles played by scarcity in a political economy.
Political Economy
With the rise of mathematical modeling, economics began to replace political economics
in the 19th century, which lead to the publication of Alfred Marshall and the William Stanley
Jevons theories discussing the issues focusing on political economies. The organization of this
concept targeted the conditions in which the production of goods and services or consumption
activities in the country faced limited parameters in nations. Therefore, the role of political
economy targeted to explain the laws of production of wealth by various groups in the society



and how the distribution of the resources was supposed to be carried out. Further, during this
period a particular group in the economy enhanced wealth creation where slave labor was used in
different plantation for agricultural practices. Political economy originated in France in 1615,
where the likes of Adam Smith, David Ricardo and Karl Marx established theories that discuss
the relationship of politics and the economy (Macfie, 2013)
One should note that current approaches that are used in managing and discussing
political economy are not limited to legislative changes. Therefore, political science, sociology,
and economics are useful in exploring and managing the political economy as they detail the
theories on capitalism and sociology concepts that affect economic activities. Therefore, the
discussion builds more analysis in the role of scarcity in the economy where goods and services
are inadequate to meet the market needs. Besides, ...

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