October 9

Ep. 0035: A History of the US Dollar Part 4: Rise and Fall of Bretton Woods

Join Prof CJ as he discusses:

  • The Bretton Woods system, set up in 1944 as the framework for the international monetary order
  • The roots of the Great Inflation (c. mid-1960s-early-1980s) that would end Bretton Woods & any link between the US dollar and specie (gold & silver), including the rise of  the so-called “New Economists”, who pushed a Neo-Keynesian view that relied heavily on a model called the “Phillips Curve”  (BTW, the stagflation of the 1970s later proved that the Phillips Curve doesn’t always work)
  • How the Great Inflation came to be, looking across multiple decades & presidential administrations
  • The government’s responses to inflation, including de-monetizing silver in the mid-60s & ending the Bretton Woods ‘gold window’ in 1971
  • Some of the effects of inflation

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Posted October 9, 2014 by profcj in category "American History", "Economic History", "Podcasts

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