
Economies in meltdown: lessons from past financial crashes
HistoryExtra podcast
00:00
The Bretton Wood System and the Global Economy
The Bretton Wood system broke down when it coincided with the internationalization of financial markets. The value of the dollar was being determined in offshore markets like the euro dollar market, which was run out of the UK. And so these changes were all hugely significant in the way we think about the speed of financial crisis spreading.
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