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BASC0037 Reimagining Capitalism: Interdisciplinary Perspectives on Just and Sustainable Futures

This module will run in term 2 during the 2025/26 academic year.

Content

To gain a critical understanding of the ongoing crises on economic, social, and environmental fronts, as well as to envision just and sustainable futures, it is essential to have a proper understanding of the current socio-economic system—capitalism.

In recent years, various scholars and commentators have emphasised the necessity of rethinking our economies, their foundational principles, and operational mechanisms. Notably, the Financial Times has initiated a media campaign featuring a column entitled “Capitalism: Time for a Reset,” which encourages business leaders to question the predominant business strategies of the past decade, characterised by limitless growth and profit-making.

This initiative has sparked discussions around topics like the ethics of investment, risks posed by large technology firms, and the future of corporate structures.

In response to this growing awareness, numerous individuals, communities, and organisations worldwide are experimenting with new forms of governance, adopting "purpose-driven" business practices, exploring alternative production and consumption methods, and embracing unconventional lifestyles. Some of these initiatives emerge from local, grassroots movements and hold the potential to challenge the existing order by envisioning a better society in the present. It’s therefore crucial to recognise and interpret them not merely as innovative niches, but as potential catalysts for broad social and economic transformation.

The overarching question guiding the course is:

Can we reimagine and reform contemporary capitalism from within to create a more equitable and sustainable system, or do we need to establish an entirely new socio-economic framework that can support the thriving of both human and non-human life throughout the 21st century?

The course is structured into three key segments.

The first section, titled “Theories and Critiques of Capitalism,” will enable students to define capitalism and explore its historical evolution up to the present day. This section will also present an overview of the critiques directed at capitalism by both classical and modern social theories, as well as from civil society and social movements. We will analyse capitalism through feminist, ecological, and decolonial perspectives.

This discussion will lead us to the second segment, “Real Utopias Towards Just and Sustainable Societies”. This segment primarily focuses on case studies of existing communities, businesses, networks, social movements, and organisations. Students will learn about the values, logics, strategies, practices, risks, and challenges associated with enhancing our economies and societies. The case studies featured include the world’s largest and oldest intentional community, Auroville in South India; the social and solidarity economy in the Global South; “conscious” companies like Patagonia; and localised democracy and municipalism inspired by Kate Raworth’s “doughnut economics” model. Some sessions will also feature guest speakers from civil society and the public and private sectors, either in person or online, sharing their insights and experiences on transforming organisations and communities towards greater equity and sustainability.

The third part of the course, titled “Future Imaginaries and Conclusions,” will focus on speculative and sci-fi narratives found in literature, film, and popular culture, discussing potential futures for our societies and economies. The increasing prevalence of artificial intelligence, robotics, the metaverse, and automation is sparking vibrant discussions about the potential obsolescence of human labour and the implications of robots becoming more intelligent. Additionally, cautionary tales regarding the severe impacts of climate change and habitat destruction raise pressing questions. How will human societies evolve in the future? What steps can we take to promote positive change and prevent ecological and social crises? Should we reevaluate our values, beliefs, and the notion that humanity is the dominant species on the planet? This concluding segment will encourage us to engage our creative and critical faculties to explore these significant and intriguing questions. Contemporary science and speculative films and literature will be utilised to inspire our discussions.

Learning outcomes

  • Define capitalism and learn about its evolution over the course of modern history from the first forms of proto-capitalism, the industrial revolution until today;
  • Describe the various critiques posed to capitalism from an interdisciplinary perspective;
  • Interpret some of the most pressing societal issues (ecological crisis, rising socio-economic inequalities, racial discrimination) in light of interdisciplinary debates on capitalism;
  • Describe the basic tenets of the various efforts to reimagine capitalism;
  • Learn to think in a creative, critical and imaginative manner, learn to share ideas and perspectives collaboratively and constructively in groups, produce an original piece of written work for the final exam engaging with theories and empirical case studies in a coherent, critical and structured manner.

Assessment

  1. One-to-one dialogue based oral assessment with the teacher (in person), 15 minutes per student - 50%
  2. Live presentation of groupwork - 40%
  3. Peer evaluation using IPAC - 10%