• Define capitalism and learn about its evolution over the course of modern history;
• Describe the various critiques posed to capitalism by critical theory and other sociological theories;
• Interpret some of the most pressing societal issues (ecological crisis, rising inequalities, gender rights) in light of the contemporary debates on capitalism;
• Describe the basic tenets of the various efforts to reimagine capitalism;
• Challenge the boundaries of the current capitalist system and discuss the opportunities and limitations for change agents to positively impact it;
• Identify the potentials and the shortcomings of the various efforts to reimagine capitalism;
• 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;
• Learn to think in a creative, critical and imaginative manner; learn to work collaboratively and constructively in groups.

In order to critically understand the ongoing multiple crises on the economic, social and environmental level and in order to envision sustainable and just futures, an understanding of the current socio-economic system, namely capitalism, is a fundamental and foundational prerequisite. 

In the last years, and especially after the North-Atlantic financial crisis of 2007-2008, many scholars and observers have underlined the need to re-imagine our economies, their underlying logic, and their functioning mechanisms. Even the economic newspaper Financial Times has recently launched a media campaign and a column titled “Capitalism: Time for a Reset” encouraging business leaders to challenge the past decade's dominant business tenets of infinite growth and profits, and opening up the debate on topics such as the ethics of investing, the risk in big technology and the future of the corporate world.

As a response to this emerging awareness, many individuals, communities and organizations around the world are experimenting with new governance structures, with "purpose-driven" ways of doing business, with alternative ways of producing and consuming goods, and with non-conventional lifestyles. Some of these practices come from local, self-organized, grassroots societal niches but have the potential to disrupt the status quo by prefiguring in the present a better society for the future. For this reason, it is important to get to know them and interpret them not only as niches of innovation, but as seeds of scalable social and economic change.

The underlying “big” question to the course is the following:

Can we re-imagine and reform contemporary capitalism “from within” to make it a more just and sustainable system, or do we need to implement a totally new socio-economic system, a system able to sustain the flourishing of human and non-human life throughout the 21st century? 

The course is organized in two main blocks.

The first part titled “Theories and Critiques of Capitalism” will allow the students to define capitalism and understand its evolution over the course of modern history until today. In this part, we will also get an overview of the main critiques posed to capitalism by classical and contemporary social theory and by civil society. In parallel with these theoretical debates, we will learn how to frame, in light of the functioning of contemporary capitalism, some of the most pressing societal issues such as the ecological crisis in the Anthropocene, the relation between capitalism and democracy, the call for more equality and recognition by feminist social movements and LGBTQI communities, and the sky-rocketing inequalities between the Global North and South.

This will allow us to transition to the second block titled “Transformative Practices Towards Just and Sustainable Societies”. In fact, after the critique, the pars destruens, comes the pars construens: the proposal for alternatives. In this part, mostly based on case study discussions of existing communities, firms, networks, social movements and organizations, students will learn about the values, logics, strategies, practices, risks and challenges to ameliorate our economies and societies. Among the empirical case studies deployed, we find the case of  workplace democracy, the case of social and solidarity economy in the Global South, the case of "conscious" companies such as Tony Chocolonely or Patagonia, and, f the relation between capitalism and democracy, inally, the case of local democracy and local municipalism inspired by Kate Raworth's "doughnut economics" model. Most of the sessions in this part will include the participation of (in person or online) invited guests from civil society, the public and the private sector to share their experience and reflections on how to transform organizations and communities towards a more just and sustainable world. 

Each lecture is divided in two parts: during the first part the lecturer will expose the main ideas and theories, and in the second part the students will work in groups to discuss one of the key readings or a case presented during the lecture.

Course Faculty: Liv Egholm (course coordinator

The course is part of the minor 'Building Organizations for Sustainable Futures: Business and Economics in Transformation', but can also be selected individually.