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—colonialism, slavery, environmental depletion, 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 collapse, 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 is human 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. 

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.

Previous guess lectures were Prof Carlota Perez, Prof of Practice Damon Silvers, Prof Eric Beinhocker, Prof Francesca Bria, Prof Ha Joon Chang, Prof Jayati Ghosh, Prof Kate Raworth, Prof Martin Guzman, and Stephanie Kelton, along with IIPP staff Mariana Mazzucato, Rainer Kattel, Josh Ryan-Collins, Carolina Alves and Cecilia Rikap.

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.

Module leaders

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

Key details

Term dates: 10-week course, 8 January - 24 March 2025 (reading week with no teaching 12 February)

Times: Lectures: Weekly in-person lectures at UCL central London campus, 2 hours long, Thursday 14-16h

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

Fees: £1,200

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