The world is still feeling reverberations from the financial crisis of 2008, foreseen by neither politicians nor economists. The history of capitalism has been punctuated by major crises, exposing the fragility of our entire economic system. How has capitalism, despite these ruptures, managed to each time resurface more resilient and radically changed? After the latest crisis, the new economic and political consensus is still in formation: where are we heading? Esteemed economist Anatole Kaletsky guides us through the crises and restorations that demarcate the history of capitalism, before revealing the shape of things to come.
By the end of the course, you will have learned:
- The causes of the three main crises that have afflicted capitalism
- The economic policy and historical period corresponding to the four major periods in the history of capitalism
- How capitalism’s resilience has proven Marx wrong
- The contours of the new economy system taking hold across the globe
- How European policy and austerity measures will only further damage the economy
- How growing global conflict is a product of the financial crisis