The Dollar in American Foreign Policy: A Look Back and Ahead

Jeffrey E. Garten, dean emeritus at the Yale School of Management and a former undersecretary of commerce for international trade, is the author of the forthcoming book, Three Days at Camp David: How a Secret Meeting in 1971 Transformed the Global Economy. Garten discusses the historical consequences of the Nixon administration’s decision fifty years ago to sever the dollar from its gold backing and the challenges the fiat dollar faces now and going forward.

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