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The Big Float

Barry Eichengreen

Fifty years ago this August, President Richard Nixon ended the era when the dollar was firmly anchored to gold at a fixed price, auguring a new era of floating exchange rates. So, why does the greenback continue to reign over the international monetary and financial system?

dissects two recent books on the international monetary system since the US abandoned the gold standard in 1971.
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  1. The Big Float
    op_eichengreen2_Evening StandardGetty Images_nixonschock Evening Standard/Getty Images

    The Big Float

    Global Bookmark Jun 11, 2021 Barry Eichengreen dissects two recent books on the international monetary system since the US abandoned the gold standard in 1971.

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