Name: Capitalism in Crisis: The global economic crisis explained
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Created byRichard Duncan

Last updated 3/2013

English

What you'll learn

To give the student a rock solid understanding of the greatest challenge confronting the world today.
To provide a framework through which the student will be able to interpret developments as this crisis continues to unfold.
To enhance the student's ability to respond to this crisis, first as a member of a democratic society that must decide how to respond to this crisis, and second as an individual who must manage his or her financial affairs.

Course content

4 sections • 16 lectures • 2h 21m total length

Introduction6:10
This introduction describes what this course will teach. It also highlights how close we are to once again collapsing into a new Great Depression.
Restoring Stability After The Great Depression6:37
After the Great Depression the United States took steps to restore economic stability, guided by the key principles of economic orthodoxy. Here we see how this was achieved.
1960s America: Too Much, Too Soon10:46
During the 1960s, the government spent too much money on war and on social welfare programs. As a result, global economic stability began to unravel.
The End of Sound Money8:22
In 1968, the Fed stopped backing dollars with gold. Three years later the Bretton Woods international monetary system collapsed. This lecture explains why.

The Consequences of Unbalanced Trade8:35
After the Bretton Woods System broke down, massive US trade deficits began to flood the world with excessive dollar liquidity. Here we see how unbalanced trade created the global imbalances that have brought the world to the brink of disaster.
Foreign Exchange Reserves8:28
Foreign Exchange Reserves - now approaching US$11 trillion - are one of the most important and least understood aspects of the global economy. Here their role is explained.
The (Im)Balance of Payments and the US Economic Bubble16:04
This lecture describes how the dollars sent abroad as a result of the US trade deficit boomeranged back into the United States and created an economic bubble there.
Flaws In The Dollar Standard8:05
The Dollar Standard lacks an automatic adjustment mechanism to prevent large and persistent trade imbalances between nations. That is its tragic flaw.

How Credit Slipped Its Leash9:24
Total credit in the US expanded fifty-fold during the four and a half decades leading up to the global economic crisis. This lecture discusses the developments that made that $50 trillion expansion of credit possible.
Creditopia8:08
A $50 trillion expansion of credit transformed the American economy - both is size and composition. The details are outlined here.
Financial Sector Deregulation8:59
This lectures discusses one of the worst economic policy mistakes in the history of the United States: Financial Sector Deregulation.
The Quantity Theory Of Credit7:55
The Quantity Theory of Credit is an easy to understand analytical framework that is very useful in explaining all aspects of this crisis. It is introduced here.

Perpetuating The Boom9:39
Policymakers fear that if credit now begins to contract, the economy will breakdown into Depression. Therefore the policy response is designed to ensure that credit continues to expand so as to perpetuate the Boom. This is very important to understand because government policy is now the most important driver of asset prices.
Inflation - Deflation9:15
Credit and money creation are highly inflationary. Globalization is deflationary. The forces behind both inflation and deflation are discussed here. For the moment, they are completely offsetting one another, creating a unique moment in history.
Concluding Remarks and Contact Details0:58
An Introduction to HOW THE ECONOMY REALLY WORKS14:27
This lecture is the introduction to my second Udemy course, How The Economy Really Works.

Capitalism died in World War I. The Government manages the economy now. In order to understand where the economy is headed and what that will mean for the direction of stocks, bonds, property and commodities, it’s necessary to understand how the government manages it.

How The Economy Really Works explains how our economic system works now.

Requirements

Access to Udemy. No prior knowledge of economics is required.

Description

The global economy is in crisis and teetering on the edge of collapsing into a new Great Depression. If it does, the economic and geopolitical consequences will be catastrophic. In this global economic crisis course, Richard Duncan provides a comprehensive explanation of how this calamity came about. Topics include the abandonment of economic orthodoxy, the end of sound money and the consequences of unbalanced trade. An easy to understand analytical framework that explains all aspects of the crisis is introduced; and the rationale for the government's policy response to the crisis is made clear. With this knowledge, the student will be well positioned to anticipate how the global economic crisis will evolve during the months and years ahead.

Richard is the author of three books on the global economic crisis and has more than 25 years of experience working in financial markets.

Take this Capitalism in Crisis now and learn about the global economic crisis.

Who this course is for:

This course is intended for everyone who needs to understand the crisis in the global economy and what is likely to happen next: investors, business managers, journalists, students of economics, students of history, all voters and, especially, policymakers.

What you'll learn

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Course content

Abandoned Principles4 lectures • 32min

Global Imbalances4 lectures • 41min

The Role Of Credit4 lectures • 34min

The Policy Response4 lectures • 34min

Requirements

Description

Who this course is for: