American Capitalism Seminar

The American Capitalism Seminar is a graduate-level course in Washington D.C. examining the role free markets play in fostering innovation and entrepreneurship, and in turn establishing and maintaining the U.S. as an economic hegemon. Topics covered will include the history of American capitalism, monetary policy and inflation, tax and fiscal policy, and the role of the corporation.

The seminar will be facilitated by Theo Merkel, a veteran of Capitol Hill and the White House National Economic Council,  currently a senior fellow at the Manhattan Institute and Paragon Health Institute. Sessions will include conversation with leading academics, policymakers, journalists, and investment professionals that seek to deepen young professionals’ understanding of economic policy, finance, the interaction between law and economics, and the intersection between theory and policymaking. 

Over the course of 10 sessions on Thursday evenings in Washington, D.C., fellows will have the opportunity to learn from experts in the field. Past instructors have included Larry Kudlow, former Director of the National Economic Council, Casey Mulligan, former Chief Economist of the Council of Economic Advisers, and Megan McArdle of The Washington Post. Sessions will take place from September until May and fellows will be expected to complete brief assigned readings prior to each lecture. They will also have opportunities for networking and other optional events in the D.C. Area.


ACS seeks a first-rate cohort of highly committed and driven mid-level professionals (25-35 years old) with a minimum of three years of work or graduate school experience. Fellow must be able to attend in-person programing in Washington, D.C.

This program is ideal for those working in government, journalism, think tanks, or other policy-relevant institutions. Successful candidates will have a professional background in economic policy, domestic politics, or finance and investing.

Applications are currently open and will close July 19, 2024.

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The ideal fellow is a young professional committed to preserving liberty, upholding free markets, defending constitutionalism, promoting a robust civil society, and fostering United States leadership abroad.