Dollar and Gold

Dollar and Gold examines the Bretton Woods system, the post-World War II international monetary system established in 1944. It argues that inherent flaws, such as the fixed exchange rates and the U.S. dollar's role as the reserve currency convertible to gold, ultimately led to its collapse. The book explores how the system, while initially fostering stability, became unsustainable due to growing U.S. trade deficits and the economic pressures of the 1960s. This economic history reveals how t...