4 ms·
Bretton Woods is one notable example, it was in effect for the US from 1945 until 1971.
by brian_cloutier 5y ago
Bretton Woods is one notable example, it was in effect for the US from 1945 until 1971.
- meepmorp 5y agoWasn't Bretton Woods a voluntary agreement? Did the US lack the ability to withdraw from the agreement unilaterally?
- cortesoft 5y agoThey obviously didn't lack the ability to withdraw unilaterally, because that is exactly what they did.
- brian_cloutier 5y agoYes, Bretton Woods isn't a good example of a time where the US literally lacked control over monetary policy. However, the GP stated that countries without control of monetary policy cease to exist. For the purposes of addressing that statement a period of >30 years where the US decided not to exercise any control seems nearly as good of a counter-example as a period where they literally had no control.
- deleted 5y ago[deleted]