Course Curriculum: 1973 as the Economic Regime Break (US • Canada • Global)

Subject: Course Curriculum: 1973 as the Economic Regime Break (US • Canada • Global)

7 chapters

Chapters

1. A) The Triffin dilemma (the structural contradiction)
   indie g-funk, ambient techno · 3:39
   Learn about the fundamental contradiction that doomed the Bretton Woods system - how the US faced an impossible choice between providing enough dollars for global trade while maintaining the gold standard that gave those dollars credibility.
2. B) Why “just buy more gold” doesn’t solve it
   indie g-funk, ambient techno · 3:59
   Central banks face an impossible dilemma when defending fixed gold prices, as buying more gold actually worsens the problem when market pressures mount and reserves dwindle. Learn why the intuitive solution of purchasing additional gold reserves backfires during currency crises and ultimately contributed to the collapse of the Bretton Woods system.
3. C) Why “just lend dollars” doesn’t fix it
   shoegaze afro-funk, edm grime, symphonic bluegrass · 4:02
   Explores why simply lending more dollars after the 1973 gold standard collapse failed to address fundamental monetary imbalances, revealing how this approach merely redirected rather than resolved underlying economic pressures.
4. A) Define “rent” correctly
   electronic disco, choral alt-country · 3:42
   Learn the crucial economic distinction between normal business profits and rent - the excess returns that flow above and beyond typical operating costs and fair compensation for risk.
5. B) Define “government take” correctly
   avant-garde jazz disco, dark dance · 4:16
   Explores the complex bundle of payments and mechanisms governments use to capture their share of oil revenues, breaking down the multi-layered fiscal systems that extract value from petroleum resources.
6. C) Why royalties can look “near zero” on gross revenue
   shoegaze afro-funk, edm grime, symphonic bluegrass · 3:56
   Learn why oil sands royalty payments appear deceptively low on gross revenue statements due to the pre-payout structure that delays substantial government returns until after companies recover their initial investments. The explanation reveals how the 1973 economic regime shift created complex revenue-sharing arrangements that obscure the true long-term value of resource extraction deals.
7. D) The politics
   avant-garde jazz disco, dark dance
   Explores the intense political struggles between federal and provincial governments in 1973 as Canada's economic system underwent fundamental changes, revealing how different levels of government fought for control over new sources of revenue and power during this pivotal economic transition.