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
About the Instructor
- Anatole Kaletsky is an eminent economist and author, as well as a columnist for The Guardian, The Times and The Economist. He has twice won the British Press Award for Specialist Writer of the Year, as well as being named BBC Newspaper Commentator of the Year. Since 2012, he has been the Chairman of the heterodox thinktank Institute for Economic Thinking.Kaletsky has been a leading advocate of what he calls ‘quantitative easing for the people’, which would see the government making direct cash transfers to all citizens in order to refuel the economy. His latest book, Capitalism 4.0: The Birth of a New Economy in the Aftermath of Crisis, argues that since 2008 capitalism has been in the process of a radical transformation comparable to the rise of social democracy or neoliberalism.
- Part One: A Short History of Capitalism. How has capitalism evolved from the Industrial Revolution to the present day?
- Part Two: Out of the AshesHas Capitalsim re-emerged mightier than ever? Can any new system protect us from uncertainty?
Suggested Further Readings
A selection of further readings has been suggested by Anatole kaletsky as part of this course.