Quantity: 1 available
Book Condition: Fine
87 pages; Fine condition. Compliments of Samuel I. Katz card stapled to front cover. No creases. Solid, clean. The year 1973 can be recognized as a watershed in the world monetary history. It marked, among other things, the end of the Bretton Woods era. It demonstrated that the mechanism of a formal par value for each nations currency, to achieve stability of exchange rates and orderly conditions in exchange markets, was no longer viable. When the market was devalued a second time in February, 1973 and when other industrial nations responded by floating their currrencies, it was evident that the original Bretton Woods arrangement had passed into history...