Saturday, February 25, 2012

Reading for Monday, February 27

As mentioned in class, here are the readings for this coming Monday.

Please read this very brief summary of Adam Smith's theory about how the "invisible hand" of the marketplace works. The summary's author does not provide very good credentials but has in fact written a clear summary of and argument for this theory.

http://business.wikinut.com/Adam-Smith-s-theory-of-invisible-hand/5-hamixs/

If you find this interesting, and want to read a little more about the invisible hand and other theories about how our political-economic world operates, you may also read this brief article which touches on game theory, the illogic of industry subsidies and other fascinating topics.

http://plus.maths.org/content/os/issue14/features/smith/index

Please also read some portion of Karl Marx's "Manifesto of the Communist Party." Which portion and how much you read is up to you... keep in mind that for every class hour you should plan on 2-3 hours of homework.

http://www.anu.edu.au/polsci/marx/classics/manifesto.html

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