Titlebook: Ideology and the International Economy; The Decline and Fall Robert Leeson Book 2003 Robert Leeson 2003 Bretton Woods.exchange rates.trade

Forsake

Flexible Exchange Rates as a Vehicle for Nixon’s Re-elections proposal to take the wind out of the anti-Vietnam war rhetoric by announcing a timetable for the phasing out of conscription. Defense Secretary Melvin Laird was an advocate of Friedman’s position. Nixon scribbled: ‘Get Laird’s comment on this intriguing proposal’ (cited by Reeves 2001, 51, 77).

Prologue

yed by a combination of market forces and those who advocated market forces. The first destructive element has been extensively analyzed; the second has hitherto been almost completely ignored. Robert Leeson examines the process by which the case for flexible exchange rates was transformed from an a

供过于求

Full Employment, Free Trade and Fixed Exchange Ratestability. They did ‘not think that anyone would seriously dispute’ the ‘purposes’ of the IMF in this regard. They believed that ‘strengthening of the existing exchange structure’ was ‘in the general interest’.

Ptosis

The Early History of the Case for Floating Exchange Ratest he added that ‘The present generation of politicians and bankers will pass away. They will endeavour to hand on their stock of clichés to those who succeed them. But even clichés pass out of fashion in time.’

消散

Price and Wage Regulation, Exchange Rate Deregulationavorably.… What he wanted to talk to me about was (1) floating exchange rate; (2) monetary policies for fighting inflation.’ Friedman reported that Heath indicated ‘a lack of interest in wage + price controls or guidelines or incomes policy’.

evasive

The Bretton Woods Establishmentgan insisting that exchange rate adjustment could only be considered under very exceptional conditions (Machlup 1966a, 65). Thus the IMF was regarded as having come of age at this time (Krause 1971, 14).

nugatory

BLINK

From Academia to Washingtonn (1975, 162, 166, 178) modestly downplayed his own ‘powers of persuasion’, but noted that his ‘fellow believers’ in flexible exchange rates had grown from ‘a meagre platoon to an army’. Some of his opponents (such as Burns and Roosa) maintained their faith in a par value system. But within a remark

oblique

The Cross of Goldvanced the prospects for international monetary revolution by pressing Nixon to debauch still further the currency of the Bretton Woods system, not through inflation but by undermining the role of gold.

Chivalrous

Robert Leesone compression ratio (VCR), water injection, supercharging and fuel injection strategies. Fuel reactivity of charge in the cylinder can be altered by various parameters such as equivalence ratio (Φ), fuel stratification, fuel additives, ozone additions and dual fuel. All these combustion control stra