The Global Financial System after 1945

The Global Financial System after 1945 - The Global...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
The Global Financial System after 1945 1. Bretton-Woods was instituted right around the end of WWII. 2. The system survived till 1970’s. Declined bc American economic dominance delined. 3. Nixon took u.s. off the gold standard and abandoned bretton-woods all together. 4. Less rules causes globalization to take place rapidly. 5. Keynes and Keynesianism- published General Theory of Employment, Interest, and Money (1936). Influenced by the Great Depression. Believed that gov has to play a big role in the economy. 6. F.A. Hayek wrote The Road to Serfdom . Written in response to fascist/communist systems. 7. Milton Friedman- argued that “liberalism” has been corrupted by the left. Believed in close connection between political and economic freedom. Awarded nobel prize in 1976. 8. Reagan was very influenced by Friedman. Became the role model for contemporary Republicans. Significant tax cuts and increased defense sector spending caused National deficit to explode.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 05/24/2011 for the course HIST 140 taught by Professor Reid during the Spring '08 term at UNC.

Page1 / 2

The Global Financial System after 1945 - The Global...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online