Nixon triggered the end of the Bretton Woods system Concepts

The Battle of Bretton Woods: John Maynard Keynes, Harry Dexter White, and the Making of a New World Order

by Benn Steil · 14 May 2013 · 710pp · 164,527 words

economics, but the tenet that guided the United States at Bretton Woods.34 There is a common thread running through White’s blueprint for Bretton Woods in 1944, Nixon’s closing of the gold window in 1971, Rubin’s hailing of the Chinese currency peg in 1998, and Geithner’s condemnation of it

…

depended on him for advancement and wider influence. Newcomer, Mabel (1892–1983). American economist. A Vassar professor, she was the only female American delegate at Bretton Woods. Nixon, Richard (1913–1994). American politician. President, 1969–74. As a member of the House Un-American Activities Committee, sparred with White in his August 1948

Inflated: How Money and Debt Built the American Dream

by R. Christopher Whalen · 7 Dec 2010 · 488pp · 144,145 words

economics were difficult enough for Nixon’s conservative supporters to tolerate, but for many, rapprochement with Communist China was the final straw.” But Nixon’s repudiation of Bretton Woods and devaluation of the dollar had far more significant impact on issues that conservatives hold dear, particularly the value of the dollar and the

The Economists' Hour: How the False Prophets of Free Markets Fractured Our Society

by Binyamin Appelbaum · 4 Sep 2019 · 614pp · 174,226 words

War was going so well that it was time to talk about the economy. There were three problems, he said: unemployment, inflation, and Bretton Woods. To create jobs, Nixon announced billions of dollars in tax cuts. To curb inflation, he announced the first peacetime controls on wages and prices in American history. And

…

a few weeks later offering encouragement but pointing out the moment was not ripe because changes in exchange rates were rare events under the Bretton Woods system. After Nixon’s speech, Melamed himself wrote to Friedman, persuading the professor to travel from his vacation home in Vermont for a breakfast at the Waldorf

The Social Life of Money

by Nigel Dodd · 14 May 2014 · 700pp · 201,953 words

analysis is broadly consistent with this idea. According to his schema, the latest regime of credit (as opposed to bullion) money began when the Bretton Woods system broke down. Nixon’s decision to leave the gold standard in 1971 initiated a “new phase of financial history” that “nobody completely understands” (Graeber 2011: 362

Samuelson Friedman: The Battle Over the Free Market

by Nicholas Wapshott · 2 Aug 2021 · 453pp · 122,586 words

effectively killed off Bretton Woods by allowing the U.S. monetary authorities to end their promise to exchange dollars for gold. In March 1973, Nixon formally ended Bretton Woods, leaving the dollar to float freely on the open market. As a means of addressing the balance-of-payments deficit, caused by Americans buying

The Global Minotaur

by Yanis Varoufakis and Paul Mason · 4 Jul 2015 · 394pp · 85,734 words

end of 1971, in December, Presidents Nixon and Pompidou met in the Azores. Pompidou, eating humble pie over his destroyer antics, pleaded with Nixon to reconstitute the Bretton Woods system, on the basis of fresh fixed exchange rates that would reflect the new ‘realities’. Nixon was unmoved. The Global Plan was dead and

Pivotal Decade: How the United States Traded Factories for Finance in the Seventies

by Judith Stein · 30 Apr 2010 · 497pp · 143,175 words

1971. And the president found a new counselor who offered a cocktail that promised quicker solutions to all of the American problems. THE END OF BRETTON WOODS Nixon’s guru was the former governor of Texas, Democrat John Connally, a protégé of Lyndon Johnson. The son of a sharecropper, the young Connally had

The Scandal of Money

by George Gilder · 23 Feb 2016 · 209pp · 53,236 words

in International Exchange: The Convertible Currency System (New York, NY: Oxford University Press, 1979), 3 and passim. Writing in 1978, just seven years after Nixon rescinded Bretton Woods, the Stanford economist showed that various currency cocktails, such as the International Monetary Fund’s then-heralded “special drawing rights,” could not address any real

Liberalism at Large: The World According to the Economist

by Alex Zevin · 12 Nov 2019 · 767pp · 208,933 words

intrigue almost up to the day the president resigned.61 Macrae, at any rate, looking to escape from the corset of fixed exchange, praised Nixon for dismantling Bretton Woods between 1971 and 1973.62 Andrew Knight: Special Relationships, 1974–86 The Economist may have applauded the delinking of the dollar from gold and

Every Nation for Itself: Winners and Losers in a G-Zero World

by Ian Bremmer · 30 Apr 2012 · 234pp · 63,149 words

to weaken their own currencies to preserve the peg, demanded gold in exchange for large amounts of their dollar reserves. In response, President Richard Nixon terminated the Bretton Woods agreement. On August 15, 1971, he moved to “suspend temporarily the convertibility of the American dollar into gold or other reserve assets, except in

…

18, 2010, http://www.ft.com/intl/cms/s/0/e9d0f552-a963-11df-a6f2-00144feabdc0.html#axzz1XoiQpcAb. 28. Yergin, The Prize, 542, 545–46. 29. “Nixon Ends Bretton Woods International Monetary System,” YouTube, http://www.youtube.com/watch?v=iRzr1QU6K1o. 30. Yergin, The Prize, 588–612, 634. 31. Ezra F. Vogel, The Four