Capitalism, Socialism and/or Democracy



Overview

In 1942, Joseph Schumpeter published a gloomy but insightful book, Capitalism, Socialism, and Democracy. He argued that the creative destruction of capitalism breeds the security and stagnation of socialism, which breeds the decay of initiative and openness, which kills the controlled conflicts that are necessary for democracy to thrive. Almost a century later, it is worth asking how well he anticipated the trends of history, and that’s what we will do in this class.

Topics include finding the best description for the current economic system (neither capitalism nor socialism is right), the multi-national decline in enthusiasm for democracy, and whether the bureaucratic-technocratic ‘blob’ might be the new ruling class. We will think about the difference between authority and power in politics and study several countries, with a special focus on China’s success and problems.

This course is part of The Oxford Experience summer school, held at Christ Church.

Programme details

Daily schedule

Seminars meet each weekday morning after breakfast.

After lunch, afternoons are free for individual study or exploring the many places of interest in and around the city. Optional plenary excursions and social activities including walking tours will also be available.

The course fee includes breakfasts Monday-Saturday (residential guests only), lunches Sunday-Friday, and three-course dinners Sunday-Thursday. All meals are taken in Christ Church’s spectacular dining hall. 

On Friday, there will be a special four-course gala dinner to celebrate the closing of the week.

Seminars 

Monday seminars

The Schumpeter Thesis: Capitalism breeds socialism, which breeds decay, which kills democracy. We will look at the theory of 'creative destruction' and the rise of social protection.

Tuesday seminars

What should we call our economic arrangement? We will think about the role of government in so-called capitalist economies, and the role of property and competition in so-called socialist ones.

Wednesday seminars

The trouble with democracy: How important are economic factors in voter alienation and the decline of the party system? We will try to find common themes in the political situations in several countries.

Thursday seminars

The bureaucratic-technocratic blob: should we think of the economy and the government as a single self-perpetuating social system? We will consider current issues, such as the energy transition and executive pay.

Friday seminars

Is China the way forward? The country has socialism, capitalism, a gigantic blob, and nothing much like democracy— but up to now it has made most of its people fairly happy.

Certification

Certificate of Attendance

At the end of the course you will receive a Certificate of Attendance.

Digital badge

You will also be issued with an official digital badge of attendance. After the course, you will receive an email with a link and instructions on how to download this. You will be able to share this on social media and add to your email signature if you wish to do so.

Fees

Description Costs
Fee option 1 (single en suite accom and meals per person) £2380.00
Fee option 2 (single standard accom and meals per person) £2270.00
Fee option 3 (double en suite accom and meals per person) £2260.00
Fee option 4 (twin en suite accom and meals per person) £2260.00
Fee option 5 (twin set standard accom and meals per person) £2260.00
Fee option 6 (no accom; incl lunch and dinner per person) £1660.00

Funding

Please note there are no sources of funding (scholarships, bursaries, etc) available for the Oxford Experience programme.

Payment

All fees are charged on a per week, per person basis.

Please be aware that all payments made via non-UK credit/debit cards and bank accounts are subject to the exchange rate on the day they are processed.

Course change administration fee: Please note that course transfers may be permitted in exceptional circumstances at the discretion of the programme administrator, up to the 1 May 2026. In accordance with our Terms and Conditions, an administration fee of £50 will be charged.

Supplementary costs

  • Any excursions listed in the 'programme details' above are included in the course fees and do not require a separate payment.
  • If your course includes a day-long excursion, you may need to make your own lunch arrangements.
  • Any optional, plenary excursions/social activities not detailed in the 'programme details' above may incur an additional cost. A social programme outlining these options will be sent to you in advance of the course start date.

Payment terms

  • If enrolling online: full payment by credit/debit card at the time of booking.
  • If submitting an enrolment form: full payment online by credit/debit card or via bank transfer within 30 days of invoice date.

Cancellations and refunds

Please see the terms and conditions for our open-access courses.

The Department cannot be held responsible for any costs you may incur in relation to travel or accommodation bookings as a result of a course cancellation, or if you are unable to attend the course for any other reason. You are advised to check the terms and conditions carefully and to purchase travel insurance.

Tutor

Mr Edward Hadas - Tutor

Dr Edward Hadas is a Research Fellow at Blackfriars Hall, Oxford University. After many years in finance and financial journalism, he retired into the academic life. He has written books about economics and Catholic Social Teaching, with one on narratives of modernity well under way.

Teaching methods

Participants will be taught in seminar groups of up to 12 people. The teaching methods used during this course may include:

  • Short lectures/presentations
  • Seminars/group discussions

Application

Enrolment deadline: registration closes at midnight on 1 May 2026. 

Most courses fill quickly so early registration is strongly recommended. If your preferred course is fully booked, you may wish to add yourself to the waiting list and the Programme Administrator will contact you should a place become available.

Please note, the programme is only open to those over the age of 18.

Online enrolment (single person accommodation and non-residential)

Single accommodation and non-residential places should be booked online by clicking on the 'Book now' button at the top of this page.

Online enrolments require payment in full at the time of registering.

Single bedroom options:

  • Single en suite (private bathroom facilities – shower, washbasin and toilet)

  • Single standard rooms (includes a washbasin and shaver point only, with bathroom facilities shared with other rooms)

Enrolment form (multi-occupancy or accessible accommodation)

Double and twin bedrooms

Double and twin bedrooms are only available for two participants that apply to the programme together. They are charged per person and cannot be booked by individuals. If you wish to book a twin or double room for two people, each person should complete an enrolment form.

Shared bedroom options:

  • Double en suite (private bathroom facilities – shower, washbasin and toilet)
  • Twin en suite (private bathroom facilities – shower, washbasin and toilet)
  • ‘Twin set’ standard (comprising two separate single standard rooms, each with a washbasin and shaver point only, opening onto a private sitting room, with bathroom facilities shared with other rooms)

Ground/lower floor accommodation

Christ Church rooms do not have lift access, and the higher rooms can be located up a few flights of stairs. If you need a room on a ground or lower floor please complete an enrolment form indicate your requirements, or contact the programme administrator directly at oxfordexperience@conted.ox.ac.uk as soon as possible before 1 June 2026. 

Enrolment form

The enrolment form is an editable PDF and can be competed electronically, so you should not need to print and scan it. 

Completed forms should be sent:

  • by email to oxfordexperience@conted.ox.ac.uk, or

  • by post to The Oxford Experience, Oxford Lifelong Journey, University of Oxford Department for Continuing Education, 1 Wellington Square, OXFORD, OX1 2JA, UK.

Level and demands

The Oxford Experience is aimed at non-specialists: no prior knowledge is required, and classes are pitched at an introductory level. The courses are designed for an international audience aged 18 and over.

There are no assessments for this course.

Accommodation

During your course you can stay in typical Oxford student accommodation at Christ Church, in buildings which range from the 18th to the 20th century. Please note that bedrooms are modestly-furnished and do not have air-conditioning.

The course fee includes breakfasts Monday-Saturday (residential guests only), lunches Sunday-Friday, and three-course dinners Sunday-Thursday. On Friday, there will be a special four-course gala dinner to celebrate the closing of the week. All meals are taken in Christ Church’s spectacular dining hall. 

Residential options are outlined below.

Please see the 'application' section above for guidance on how to book or request the right accommodation for you, including how to request a lower/ground floor room.

Accommodation options at Christ Church

Single, twin and double bedrooms are available. 

We welcome participants who want to attend multiple courses over the summer. Resident participants staying in Christ Church for consecutive weeks will have bed and breakfast accommodation arranged for the Saturday night between their courses at no extra cost.

Non-residential option

We also offer places on a non-residential basis whereby participants can take classes and have lunch and dinner at Christ Church, having arranged their own accommodation elsewhere. 

Accommodation before/after your course

We are unable to arrange accommodation at Christ Church prior to or following your course. Please contact Christ Church directly if you require additional nights of bed and breakfast accommodation, and they may be able to assist.

Additionally, family or friends who are not enrolled in the programme cannot be accommodated in college. 

Terms & conditions for applicants and students

Information on financial support