New York University 4 credits History
Nineteenth century Europe was the birthplace of economic liberalism. The gold standard, the night watchman state, and the writings of the classical economists laid the foundation for a golden age of laissez-faire capitalism centered on the nation-state. More than a century later Europe is known as the pioneer of the welfare state, the host for an experiment in fascist and communist economics, and the center for a supra-national process of economic cooperation: the European Union. This course traces the evolution of European capitalism during the twentieth century, from laissez-faire to welfare state economies. Throughout the semester we will study the key themes and turning points that shaped Europe's economic development: the Great Depression, the world wars; alternative ways of organizing economic life under fascism and communism; the stagnation and crises of the 1970s; and finally Europe's ongoing project of economic integration.
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