Capitalism is the engine that drives our economy, except it is broken now. We have to find a way to rebuild our economy for lasting success, not a roller coaster ride of ups and downs that diminishes the middle class with every up and down .
Lecture on Capitalism
The Teaching Company has a course entitled Thinking About Capitalism, taught by Dr. Jerry Muller of Catholic University of America. It is an excellent course and I highly recommend it. It is available on audio CD or DVD.
Our future leaders must have a better understanding of economics than today's leaders. With a commercially available course on Political Economics, this could be taught in high school or studied in continuing education or study group.
Practical Applications of Economics in North Texas
If we think of Texas as though it were an independent nation and look to see how we can build up the Texas economy then we can apply lessons from the history and theory of economics.
Alexander Hamilton wrote an important article, "Report on the Subject of Manufactures," that serves as an example of thinking how to grow an economy. Japan is an example of government planning to grow their economy. Perhaps studying how MITI (the Ministry of International Trade and Industry) succeeded could give us ideas on how to grow the Texas economy.
The Cultural Contradictions of Capitalism by Daniel Bell
Good Capitalism, Bad Capitalism by William Baumol, et al
There is a link between Capitalism and culture. The idea of Human Capital changes the role of people from consumers to intrinsic parts of the economic system. Here are some books and essays that provide important context for Political Economics:
Democracy in America by Alexis de Tocqueville
Reflections on the Revolution in France by Edmund Burke
Better Leaders for a Better Future
It is time to rebuild our economy and do it right. We must be smart to do it right and studying is the way to get smart on economics.
Our children need to understand Capitalism to succeed in our Capitalist society.