Made in America: The global financial crisis and the Great Recession•What are the long-term, structural origins of the global financial crisis of 2008?•What factors over the past decare led to the global financial crisis?•How have governments responded to the crisis?•Long term causes of the crisis 1970’s-2000oDecline of Bretton Woods and the Liberation of CapitalBretton Woods sought to regulate flow of capital, rested on the preeminence of the American dollarIn the 1970’s US economic dominance was declining in the world, the US could no longer set the terms of the global economy and financial system. Take the US dollar off the gold standard to float it which leads to decline in bretton woods systemDecline of bretton woods was replaced by deregulated system that liberated capital, more capital available that could flow to more places more quickly but increases the chance of financial crisisoThe rise of neo-liberalism, de-regulation, and financialization of the economy
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Financial services, United States dollar, global financial crisis