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Nixon Shock Effects
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Nixon Shock Effects explores President Nixon's 1971 decision to end the US dollar's convertibility to gold, a pivotal moment that dismantled the Bretton Woods System and ushered in an era of floating exchange rates. This shift, initially intended as a temporary measure, had profound and lasting consequences on the international monetary system, fundamentally altering global finance and trade. The book argues that understanding the Nixon Shock is crucial for grasping the roots of today's eco...