"The syllabus thus addresses the 'dark side' of capitalist social dynamics through the lens of Joseph Schumpeter's concept of creative destruction, focusing on those initial, often institutionally unstructured moments after a successful innovation disrupts a given market or industry."
"I ask the students to focus on the Manifesto's affirmations of capitalism-what is this power capitalism possesses to profane, integrate, accentuate, and clarify its own conditions? This point of departure frames the problem of destruction as ambiguous: it can be both a catastrophic and an emancipatory force."
"The idea here is to raise the question of whether deviations from the norm can lead to greater innovation and freedom within the context of liberal democracy."
The course 'Ethics, Economics, and Entrepreneurship' at Loyola's Quinlan School of Business focuses on the complexities of capitalism. It utilizes Joseph Schumpeter's concept of creative destruction to explore the 'dark side' of capitalist dynamics. The syllabus encourages critical thinking by engaging with texts from Adam Smith, Karl Marx, and John Stuart Mill. Students analyze capitalism's self-undermining narratives and the dual nature of destruction as both catastrophic and liberating. The course aims to foster a deeper understanding of innovation's impact on society and individual freedom.
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