Gatton College of Business and Economics
Program for
the Study of Capitalism and the Economy
Program
Overview
The precursor to the Program for the Study of
Capitalism and the Economy was founded with the support of a gift to the Gatton
College from the BB&T Corporation.
The Gatton College is grateful to the BB&T Corporation for its past
and continued support and encouragement, through which the Program continues
with sustained vigor.
Statement of Purpose
History shows that
capitalism – as characterized by private ownership, economic freedom, individual
choice, and competition – has been the source of unprecedented prosperity and
human flourishing, in conjunction with its companion institutions involving
civil and political freedoms. Yet, like
all human endeavors, these institutions are not perfect. Thus, it is important to discover and
understand aspects of these institutions that promote the well-being of
society, as well as those that do not.
This program will strive to do so in an intellectually rigorous way.
Specifically, the mission of the Program is comprised
of three primary goals:
1. To
gain deep, accurate, and objective understandings of capitalism/private
enterprise vis-à-vis other systems of organizing the economy and society;
This involves considering the well-being of individuals in society, both in material and non-material terms, as
well as moral and ethical issues. The role of government in society is central
to these issues.
2. To
engage the academic and university communities, as well
as the public, in a serious and sustained examination of capitalism and the
numerous ways in which it affects our lives;
3. To
broaden perspectives regarding and to appreciate the inter-relationships among:
modern economics and related social sciences, economic history and economic
thought, public policy and the law, and various social institutions.
Program Director
The
Director of the Program for the Study of Capitalism and the Economy is
Professor John Garen. He is Professor of Economics in the
Gatton College, where he has been a member of the
faculty since 1985. Dr. Garen received
his Ph.D. from Ohio State University in 1982 and has served as a Visiting
Professor at the University of Chicago, a Visiting Scholar at the
Mercatus Center, at National Sun Yat-Sen University, and at National Taiwan
Normal University, is a member of the Board of Scholars for the Bluegrass
Institute for Public Policy Solutions, and a member of the Mercatus Center’s
Faculty Network. From 2005-2009 he served as
Department Chair and during 2004-2005 he was Co-Director of the Gatton
College’s Center for Business and Economic Research.
Dr. Garen has
conducted research on a wide variety of economic issues, leading to over thirty
publications in many of the foremost academic journals, as well as numerous
reports and manuscripts. Growing out of
this experience has been a steady flow of opinion columns, media work, and
presentations to the public on the economy and economic issues, and on the importance
of economics to good public policy
http://gattonweb.uky.edu/Faculty/garen/index.html
http://gattonweb.uky.edu/Faculty/garen/CurrentVita.pdf
Program
Activities
Speaker
Series.
Respected scholars and policy makers are invited
to campus to present to a cross-campus and community audience on relevant and
noteworthy issues. The intent is to
engage with a broad campus audience, as well as with the business and local
communities.
A sample of recent speakers is:
Professor Russell Sobel, Fall 2014
Professor Dwight Lee, Spring 2014
Professor Gerald Dwyer, Fall 2013
Professor James Otteson, Fall 2013
Senator Rand Paul, Spring 2013
Professor Donald Boudreaux, Spring 2012
Professor Susan Dudley, Spring 2011
John Allison, Fall 2010
David Boaz, Fall 2010
Undergraduates
Programs
In support of the Program, the Department of
Economics regularly offers the course “Capitalism and Other Social
Systems.” The course presents
fundamental ideas underlying capitalism as well as many of its critiques. The deep background and historical roots of
capitalism are discussed in addition to those of several alternative
economic/social systems. Also,
historical episodes and selected controversies are discussed that illustrate
the contrast between proponents and opponents of capitalism. A recent syllabus
is here: link;
The Program also facilitates an undergraduate
reading/discussion group where ideas and controversies surrounding private
enterprise, as well as related current events and debated and discussed. Examples
of reading group event schedules are:
Spring 2014
Fall 2013
Spring 2013
Spring 2012
Fall 2011
Spring 2010
Graduate
Programs
The Program provides support for graduate students
interested in engaging with Program activities. This may include research support and support for travel to professional conference.
Graduate Fellowship. The Program is beginning the award of graduate fellowships and interested parties and
encouraged to apply. For further infomation, please go here.
Additionally, the Program facilitates an informal
summer reading/discussion program for graduate students and faculty. Summaries of the past two summer programs are
below.
Summer 2014
Summer 2013
Faculty Research
The Program supports faculty research projects that fit with the Program’s
Statement of Purpose. Recently supported
projects are:
Professor
Aaron Yelowitz, “The Early Effects of the Affordable Care Act on the
Individual Health Insurance Market:
Insurance Plan Availability and Premiums.” (abstract)
Professor James Fackler, “Bernanke Vs.
Taylor: A Post Mortem on Whether Monetary
Policy Contributed to the Housing Boom and Bust.” (abstract).
Dr. Dirk Mateer and Dr. Charity-Joy Acciardo,
“Charting a Path to Prosperity: The
Economic Freedom of the World Map in the Classroom.” (powerpoint)
