"The happy days of Bretton Woods, often viewed today with nostalgia, were a special case, workable because of a particular economic and political setting… the inherent contradictions in the system were too great. With the benefit of hindsight, it would seem that an erosion of the United States competitive position was implicit in the postwar arrangements."
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People from New JerseyEconomists from the United StatesLutherans from the United StatesChairs of the Federal Reserve
Original Language: English
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Paul Volcker
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