No one reading this has not experienced or witnessed the painful effects of the combined financial crisis, long recession  and severe shortage of well-paying jobs. These are turning points in American society and world history. Two of the nation’s most prominent economists have recently warned that Americans must now accommodate themselves to an unending condition of chronic slow economic growth, low wages, high unemployment and permanent economic insecurity. Are they right? A great deal hangs in the balance.

Understanding the origins and future of the present crisis can help in making sense of the world and planning for the future. This class helps students understand where the crisis came from, why it has the features it has, and where it is likely to lead. Clear explanations will be offered for terms like financial bubble, securitization, derivatives, credit default swaps and financial economy vs. real economy. Implications for income and job growth will also be studied. No prior background in economics is required. Required readings have been selected for clarity and general accessibility.