The framework of justice for natural opportunities is shown to have a natural counterpart in a theory of a just monetary system. Adding an international dimension, the course deals with payments among nations to compensate for inequalities in per capita natural opportunities, with a global system for managing climate-warming activities, with secession, and with refugees. Finally, the course addresses the question of how the conception of justice advanced by the course might be achieved.

The instructor, Nicolaus Tideman is a Professor of Economics at Virginia Tech.  He received his bachelor’s degree from Reed College in 1965 and his Ph.D. from the University of Chicago in 1969.  From 1969 to 1973 he was Assistant Professor of Economics at Harvard University.  In 1970-71 he served as Senior Staff Economist at the President’s Council of Economic Advisors.  He has also served as a consultant at the Bureau of the Budget (predecessor to the Office of Management and Budget) and at the Office of Tax Analysis in the Department of the Treasury.  He has been at Virginia Tech since 1973, as a post-doctoral fellow, Associate Professor, and Professor since 1985.  He has published over 100 professional articles and the book, Collective Decisions and Voting: The Potential for Public Choice.

Our national debate isn’t on a pathway to solutions. It’s on a pendulum… back and forth: Do we have more government or less government? More of social services or less of social services? Raise taxes or lower taxes? These arguments don’t end. Why does economics need a rethink? Because we’re having the wrong arguments.

This class will ask, could better ideas about what passes for economic fundamentals make capitalism more fair in its outcomes and less needy of government intervention? Is it actually possible to retire some of our political debates?

The instructor, Stephen Taft, has worked for decades on Wall Street managing others peoples’ money. Over that time, he delved into economic studies to help him cut through the chatter that drives many investment choices. What he found there is a misbegotten justice. He is eager to share his findings.