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Dollar Devaluation and Foreign Trade

Richard B. Du Boff

Abstract


When President Nixon announced his "new economic policy" (NEP) to a stunned capitalist world on August 15, 1971, little did he dream that just four months later he would be standing in the Smithsonian Institution in Washington hailing an official devaluation of the dollar as "the most significant monetary agreement in the history of the world."

Keywords


Global Economic Crisis; Political Economy

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DOI: http://dx.doi.org/10.14452/MR-023-10-1972-03_2

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