Correctional Economics is a course in economics with an emphasis on correcting the parts missing from conventional economics.
The course has three main parts:
Part 1: Money, Credit, Debt.
- The nature of the money and debt, including government debt and the banking system
- History of money and credit
- Discount Rates
Part 2: Taxation, Land, Monopolies, Economic Rent
- The theory of optimal taxation
- Land as a factor of production
- Economic incidence of taxes
- History of economic thought.
Part 3: Institutions and collective action problems
- What is a collective action problem?
- How are collective action problems solved?
- Examples of success and failure