Explore how government intervention shapes the economy in the 21st Century, influencing credit creation and asset prices for a deeper understanding of modern economic dynamics.
This course dives into how the government shapes the economy today, highlighting its shift from classical theories to active management. You'll discover the tools used by governments and their impacts on growth and investments.
Understand how the government manages the economy through credit creation & asset price manipulation in the 21st Century
Up until roughly 100 years ago, the government played very little role in the economy. It was generally believed that the economy worked best when directed by the autonomous forces of supply and demand. During the 18th and 19th Centuries, a consensus emerged on how the Capitalist economy worked; and that classical economic theory has been the foundation of economic teaching ever since.
The economy no longer works the way it did during the 19th Century, however. Over the past 100 years the government's involvement in the economy has expanded so radically that the economic system itself has little left in common with Capitalism - at least, not at the Macro level. Yet Economics continues to be taught as if nothing has changed; and, for the most part, the public continues to believe that our economy is still driven by natural forces as it always was in the past. But that is very far from the truth.
Today, the government manages - or directs - the economy using a variety of policy tools to ensure that Gross Domestic Product continues to expand. The implications of this fact are very far reaching. It is impossible to understand politics or economics in our era without grasping that the government is managing the economy. Moreover, it is particularly important that investors understand this new reality because government actions now impact the direction of asset prices far more than any other variable.
This Course explains how the economy really works.
By the end of the course, you will understand how the economy works in the 21st Century. You will see how and why the government directs the economy; and you will be better positioned to anticipate what the government will do next and to understand how that action will impact asset prices.
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Richard Duncan is the author of three books on the global economic crisis. The Dollar Crisis: Causes, Consequences, Cures (2003) explained why a worldwide economic calamity was inevitable given the flaws in the post-Bretton Woods international monetary system. It was an international bestseller. The Corruption of Capitalism (2009) described the long series of US policy mistakes responsible for the crisis. ...
Great content!
Great course to understand how the economy works . It would be great to see some update on the current situation .
o personally think that everyone should follow this course. its extremely important for your financial life.
Richard did a wonderful job teaching about Credit and the Economy. I will be able to take this back and predict what the future of our country entails. Hopefully other people sitting in high places are watching this.
I really enjoy that Richard published his first book in 2003 showing the concerns and the calculations too. While he saw what was coming we were to busy having the spending party. For this reason I feel happy to listen to his reasoning and look forward to his views helping me shape my investments and risk based on the numbers and the responses expected of governments either way they decided to go....the only guessing game for me now is if the US will default or forgive the debt and then ....at what pace and ...when. Aside from that I will continue to seek Richards views and calculations for confirmation of my own thoughts to to chalaza my current thinking and hopefully improve my limited brain power while under his influence.
An excellent overview of a very complex topic. Economic analysis can be simple if one uses the right model. Richard Duncan has provided such a framework.
This is an excellent course! Mr. Duncan does a very thorough discussion of how the economy really works, with real statistics to support his discussion.
Although he has laid the foundation for understanding how we got to where we are, I think that inclusion of more of the politics that we will face could be useful. Politicians don't talk like economists.
i love this course,thank you Duncan!
Once again Richard explains the intricacies of the economy in a measured, easy to understand, logical process.
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Michael G.
Informative and interesting.