DECO 27A44 - Liberal Political Economy and Philosophy

This class addresses liberalism from an interdisciplinary perspective encompassing philosophy, political science, and economics. The objective is to characterize the principles and institutions that would govern a genuinely liberal society, discuss their justification, and assess their limits.

The study of liberalism and liberal society is both important and complex. Today, discussions about the crisis of liberal democracy are commonplace. As the expression "liberal democracy" suggests, North American and European societies have been largely influenced by liberalism both as an intellectual and political project. Their political and economic institutions reflect liberal ideas and principles. However, liberal democracies are not homogeneous and also contain non-liberal or illiberal aspects. This observation reveals the topic's inherent complexity. The label "liberalism" encompasses a broad range of views and may apply to societies with different political and economic institutions. Moreover, no contemporary society exactly conforms to the requirements of any specific strand of liberalism. Therefore, as French political philosopher Catherine Audard observes, we can identify a paradox: liberalism is simultaneously omnipresent (all Western societies are considered liberal) yet elusive (we can hardly identify a genuinely liberal society).

This class aims to achieve a better understanding of what constitutes a liberal society and why such a society may or may not be desirable. Unlike most treatments of the topic, our approach will be analytical rather than historical. We will not explore the intellectual history of liberalism in detail, though the class will address the writings and ideas of major liberal writers from the 19th and 20th centuries. The focus is on the political economy and political philosophy of liberal society: what are the core principles and institutions of liberalism, and what economic, political, and philosophical arguments support or challenge them?

The class is divided into three parts. The first part deals with the most important principles of liberal society: individualism and pluralism, freedom, and constitutionalism. We discuss the content of these principles and examine their relevance to contemporary debates and controversies regarding, for instance, the status of the rule of law and recent forms of identity politics. The second part discusses the economic and political institutions of liberal society. We examine the particular status granted from a liberal perspective to markets and property rights. We explain why the political organization of liberal society must be polycentric and what this entails. Finally, we reflect on debates over social justice and the welfare state and characterize the liberal position within these discussions. The third part addresses some of the most significant contemporary challenges to, and critiques of liberalism. We discuss in detail the “post-liberal” movement that has achieved a huge influence in the United States and examine how contemporary forms of populism emerge from a rejection of the liberal interpretation of democracy. Finally, we tackle systemic challenges to liberalism such as the climate crisis and the emergence of artificial intelligence. All these topics are covered with particular emphasis on the North American context.

By the end of the semester, students will have acquired a solid understanding of the nature of liberal society and the debates and controversies surrounding it. This understanding will help them address issues tangentially related to liberalism, such as populism, the economic effects of technological change, and the acceptability of economic inequalities. Students will also be introduced to tools and theories from political economy and political philosophy relevant to the study of liberal society.

Academic expectations

There are no particular academic prerequisites for this class. I do not expect students to have any particular background in economics, political science, or philosophy. All concepts, tools, and theories used in class will be introduced from scratch. This class is intended for students interested in debates on liberal democracy and its crisis, and are curious to better understand the principles and institutions of the liberal society. A solid acquaintance with current economic and political affairs, especially in the North American context, is required.

Your grade will be based on three evaluations. A midterm exam that counts for 30%, a final term exam that counts for 30%, and a discussion paper that counts for 30%. More details will be provided during the first week of the class. The discussion paper is a 2000-to-4000-word document that discusses a topic of your choice among those addressed during the semester, based on the course materials and the readings.

Students must complete the mandatory readings before each class. Classes will begin with a discussion based on these readings. Participation will count for the remaining 10% of your grade. Mandatory readings will be made available to you. Suggested readings can help you deepen your understanding. Part of the class material is based on these supplementary readings.