14. The Political and Judicial Elements of American Capitalism

Capitalism: Success, Crisis and Reform (PLSC 270)

Professor Rae uses the Merck-Vioxx business case to highlight political elements of U.S. capitalism, including government regulatory agencies, federalism, lobbying, regulatory capture, tort law and liability, and patent law. Professor Rae discusses the importance and influence of concentrated business interests in Washington DC. The Merck legal battles underline how important political and judicial details are in the operation of capitalism. The case also shows the constraints that reform-minded politicians face in attempting to change the status quo.

00:00 - Chapter 1. Introduction: Using Merck-Vioxx as a Main Case
08:07 - Chapter 2. Patterned Advantage
18:41 - Chapter 3. Merck Background
25:43 - Chapter 4. Common Law Tradition
31:19 - Chapter 5. The Plaintiff Bar & Mark Lanier

Complete course materials are available at the Open Yale Courses website: http://open.yale.edu/courses

This course was recorded in Fall 2009.