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Nixon Ends Convertibility of U.S. Dollars to Gold and Announces Wage/Price Controls
Post Reply RetroFed Forum Forum Index » Politics
AuthorMessage
ɔiƚoxɘup beehaw.org Quexotic@beehaw.org
Joined: 2023-06-16
(edited) Quote

Link: https://www.federalreservehistory.org/essays/gold-convertibility-ends

In 1971, Nixon's political and institutional response to the inflation crisis (one of his own making) led to the decoupling of wages from productivity and an end to strong union leverage. This is where (IMO) the class war went into full swing.

I thought it might be nice to add context to current events.

Past is Prologue.
20   Original
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