Wednesday, November 30, 2011

"What Is It Good For?"

Here's me from class yesterday: "What eventually destroyed the Bretton Woods system was the fact that a fixed exchange rate was exporting American inflation to other countries, who decided they didn't want it. Remember, in the late 60s and early 70s the US was fighting two wars, one on Poverty and one on the Vietnamese, both of whom won."

Title from the original title of Tolstoy's War and Peace.

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