Depression in a Credit-Driven Economy
The purpose of this course is to offer an alternative theoretical framework to explain the workings of the US economy since the abandonment of the Gold Standard. The end of the Gold Standard has gradually but surely brought into being a new kind of economy based on credit fueled consumption rather than capital accumulation and investment as it has traditionally been since the Industrial Revolution. Has this shift in the economic system ushered in a new era of growth and prosperity or does it contain the seeds of another pernicious cycle of instability?
View a four-part series with Andrew Mazzone, President of Board of the Henry George School of Social Science. The course highlights new sets of theoretical reference points to help you understand how the US economy has changed since the unravelling of the Bretton Woods system, and where it could be heading.