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NIXON AND THE GOLD STANDARD.


17568. NIXON AND THE GOLD STANDARD.

This paper provides an overview and analysis of President Richard Nixon’s August 15, 1971 decision to end the gold standard as part of the president’s broader “new economic program”. Following a description of the historical background of the gold standard and the Bretton Woods system, the analysis considers the factors contributing to American economic decline in the early 1970s and the reasons why Nixon sought to address some economic problems through the elimination of the gold standard. Concludes that the decision to end the gold standard had negative economic consequences for the United States and for stability in the international monetary system. KEYWORDS: gold standard bretton woods international monetary system us economy 1970s president Richard Nixon monetary policy. MLA Style. 24 pages, 63 footnotes, 14 bibliographic sources.
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