Rethinking Capitalism: join the module

In the decades since 1989, capitalism has become the world’s hegemonic economic order, and its extraordinary dynamism continues to reshape the contemporary world with an astounding speed and thoroughness.  Yet at the same time contemporary capitalism is facing unprecedented challenges—runaway inequality, the return of financial crisis, technologies and technology platforms of unprecedented power, and climate change, against a background of slowing growth and falling investment.  This postgraduate module, offered by the UCL Institute for Innovation and Public Purpose (IIPP), asks the critical questions: What do we mean by capitalism? And more importantly, what should we do about it? 

The module investigates the interplay between the fundamental pillars of capitalism—labour, land, energy and technology—on one hand, and the historical and social dynamics that have shaped capitalism as an actual human system through time—including colonialism, slavery, technological change, economic crises, and political conflict. Using historical and interdisciplinary lenses, the module will critically examine how economic systems shape, and are shaped by, grand challenges such as political instability, ecological change, and financial crises. 

At the same time the module will give students a window into economics as a field and how it has interacted with the development of capitalism as a social system.  By unearthing the historical roots of capitalism and looking at how they shape capitalism today, the module seeks to challenge myths surrounding capitalism as a form of human society—most of all the myth that capitalism ishuman society rather than being a particular, historically shaped form of human society  We’ll explore what capitalism has been, what it is today, and how it continues to shape our world. 

Module leaders

• Dr Carolina Alves, Associate Professor in Economics at IIPP-UCL
• Damon Silvers, Visiting Professor of Practice in Labour Markets at IIPP-UCL

Enriching the experience 

The module features lectures from IIPP faculty and a range of internationally renowned scholars in economics, business, history, anthropology, political science and other fields in the social sciences, focusing on emerging and contested themes surrounding capitalism. Participants will leave equipped not just to understand and critique the status quo but to contribute to transformative solutions for our most pressing global challenges.

This course has been privileged to host an exceptional lineup of guest lecturers, featuring some of the most influential thinkers in economics and related fields. Previous guest lectures were Prof. Mariana Mazzucato, Prof. Carlota Perez, Prof. Wendy Carlin, Prof. Shoshana Zuboff, Prof. Jairus Banaji, Prof. Richard Drayton, Prof. Simon Johnson (Nobel Laureate), Prof. David Soskice, Prof. Gargi Bhattacharyya, Prof. Jayati Ghosh, Prof. Martin Guzman, Prof. Ha-Joon Chang, Prof. Kate Raworth, Prof. Stephanie Kelton, IIPP Honorary Prof. Francesca Bria,  Prof Eric Beinhocker and many more. Their contributions have enriched the learning experience, offering students unique insights into contemporary debates, policy challenges, and the evolving landscape of economic thought.

The module is suitable for policymakers, civil servants, NGO practitioners, and think-tank professionals actively engaged with economic or public policy issues. Policymakers will not be assessed but will receive a certificate of attainment upon completion of the course. 

While an academic background in economics or a related social science is advantageous, the course is designed to be accessible to diverse professional backgrounds.

Key details

Term dates: 10-week course, 12 January - 29 March 2026 (reading week with no teaching 16 February)

Times and lectures: Weekly in-person lectures at UCL central London campus, 2 hours long, Monday 11:30-13:30. 

Seminars: Weekly in-person seminars will be 60-90 minutes long on Tuesdays. Seminars will be scheduled according to group size and availability

Fees: £1,200

Closing date: 17th November 2025

Scholarships and Auditing Policy

At present, IIPP is unable to offer subsidies or scholarships for this module. We hope to introduce funding opportunities in the future and will share updates as they become available.

Additionally, we do not accept auditing students at this time. Participation is limited to fully enrolled students to ensure fairness and respect for those who have made a financial commitment to the module.

We appreciate your understanding and encourage you to check back for future developments.