Understanding our Political Economy
4.2 (9 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
29 students enrolled

Understanding our Political Economy

in 7 Lectures
4.2 (9 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
29 students enrolled
Last updated 3/2020
English
English
Current price: $13.99 Original price: $19.99 Discount: 30% off
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This course includes
  • 2.5 hours on-demand video
  • 15 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Assignments
  • Certificate of Completion
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What you'll learn
  • Students who take this course will gain an understanding of how our economy works and find out why a paradigm shift is a prerequisite for addressing today's seemingly intractable problems such as poverty, wealth inequality and climate change.
Requirements
  • Basic english language skills
Description

The purpose of this course is to study fundamental economic principles and to apply them in solving today’s economic problems: poverty, inequality, unemployment, recessions, high taxes, inflation, etc.

The textbook used is Henry George’s masterwork, Progress and Poverty. Though this book first appeared in 1879, it is fully applicable to today’s conditions since the principles with which it deals are universal. A reading of the book will convince the student of its timeliness.

The basic problem which George set out to solve in this book is still today’s basic problem: Why, in spite of progress, does poverty persist?

Many answers have been given since George’s day, and many measures have been applied, but the problem still remains. The problems of the business cycle and recurring periods of unemployment have also defied solution. In this course, we look into George’s analysis to which sufficient attention has not been paid, but which has never been successfully refuted.

A fundamental and non-technical approach to economics is taken in this course. Basic terms are defined, basic economic laws are sought and basic principles are applied. Study supplements are offered for each lesson — not as a substitute for the text but to augment it — by elaborating certain points, by applying the principles to current conditions and by answering the most frequently asked questions.

The course is divided into 7 lessons. 

  1. The Rise of Economics

  2. Essential Elements of Political Economy

  3. The Natural Laws of Production and Distribution of Wealth

  4. Money, Currency and Credit

  5. Rent Privatization and the Boom-Bust Cycle

  6. Holes in the Neo-classical Price Theory

  7. What to do when the Perfect is out of Reach


It will be seen that the last part of the course goes beyond economics and into social justice. The theme as it unfolds becomes more fascinating and will reward the student who pursues it to the end.

Each lesson has online assignments and in some cases, supplemental reading and a set of questions for offline practice.

To get the most from this course, it is highly recommended to read the entire text of Progress and Poverty.

Who this course is for:
  • Beginners
Course content
Expand all 7 lectures 02:40:55
+ Introduction
1 lecture 20:27

The purpose of this course is to study fundamental economic principles and to apply them in solving today’s economic problems: poverty, unemployment, recession, slums, high taxes, inflation, etc. This course is Part I of a three-part study of Principles of Political Economy, but it is complete in itself.

The textbook used is Henry George’s masterwork, Progress and Poverty. Though this book first appeared in 1879, it is fully applicable to today’s conditions since the principles with which it deals are universal. A reading of the book will convince the student of its timeliness.

The basic problem which George set out to solve in this book is still today’s basic problem: Why, in spite of progress, does poverty persist?

Many answers have been given since George’s day, and many measures have been applied, but the problem still remains. The problems of the business cycle and recurring periods of unemployment have also defied solution. In this course we look into George’s analysis, to which insufficient attention has been paid, and which has never been successfully refuted.

A fundamental and non-technical approach to economics is taken in this course. Basic terms are defined, basic economic laws are sought and basic principles are applied. Study supplements are offered for each lesson — not as a substitute for the text but to augment it — by elaborating certain points, by applying the principles to current conditions and by answering the most frequently asked questions.

The course is divided into 7 lessons. 

  1. The Rise of Economics

  2. Essential Elements of Political Economy

  3. The Natural Laws of Production and Distribution of Wealth

  4. Money, Currency and Credit

  5. Rent Privatization and the Boom - Bust Cycle

  6. Holes in the Neo-classical Price Theory

  7. What to do when the Perfect is out of reach


It will be seen that the last part of the course goes beyond economics and into social justice. The theme as it unfolds becomes more fascinating and will rewards the student who pursues it to the end.

Each lesson has a reading assignment in Progress and Poverty, and a set of questions to be answered. Numbers following questions (except in Lesson I) indicate the pages in the text where answers may be found. Some questions are based on the study supplements.

To get the most from this course, we recommend reading the entire text of Progress and Poverty. 

Preview 20:27
+ Essential Elements of Political Economy
1 lecture 16:12

In this lesson, we introduce the factors that intervene in the process of wealth creation. They are called Factors of Production.

Lecture 2
16:12
Please select the correct answer
Definitions
4 questions
+ The Natural Laws of Production and Distribution of Wealth
1 lecture 17:09

In this lesson, you will become familiar with the laws pertaining to the distribution of wealth among the three factors of production.

Lecture 3
17:09
Please select the correct answer
The Laws of Political Economy
6 questions
+ Money, Currency and, Credit
1 lecture 21:12

In this lesson, you will learn the history of money creation, money substitutes as well as the introduction of credit as a key driver of modern economies of exchange.

Lecture 4
21:12

Please read the question and select the correct answer

Money and Banking
4 questions
+ Rent Privatization and the Boom - Bust Cycle
1 lecture 19:05

In this lesson, you will understand why rent always increases at a faster rate whenever the economy grows and why large areas of valuable land remain unused and underused. You will also find out how the distortions created by land speculation contribute to the boom and bust cycle.

Lecture 5
19:05

Please select the correct answer

Boom - Bust Cycle
4 questions
+ The Neoclassical Price Theory
1 lecture 17:37

In this lesson, you will find out why the Neoclassical theory's ignorance of land leads to misleading conclusions on how the economy works.

Lecture 6
17:37

Please read the question and make the correct selection

The Neoclassical price Theory
4 questions
+ What to do when the Perfect is out of reach
1 lecture 15:52

In this concluding lecture, we acknowledge the tremendous obstacles both political and within academia to a systemic change. We therefore argue for a progressive tax reform that would shift the fiscal burden away from productive activities, to grow the economy and onto unearned income which contributes to worsening the income gap.

Lecture 7
15:52

Please read the questions and select the correct answer

Taxation
4 questions