This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: consumes o Breaks down after WWII 1945-1975: The american system and regulated global capitalism bretton words o Key policy makers held a conference on how to create basic rules and regulation for post war global trading system in bretton woods o Bretton woods system at the heart is the US dollar, all other currencies would be pegged to the dollar, which was backed by gold o International monetary fund and world bank came out of this conference o Designed to create a regulated global trading system that creates steady economic growth o Works pretty well so long as the US is the dominant power o Nixon takes US off gold standard and float the US dollar on foreign currencies so the dollar declines o As a result of the decline of the bretton woods more accessible capital that could flow more easily throughout the world is available than ever before o At the same time we see a rise in other foreign markets...
View Full Document
- Fall '08