Abstract
Germany in the late 1960s and early 1970s took the strategic choice to pull out of the now rotten high-inflation dollar standard (Bretton Woods) and pursue hard money, adopting monetarism for that purpose. In this chapter, the authors examine the political circumstances in Germany which favoured that outcome and the initial success of the strategy. Ultimately, that strategic choice was undermined by conflicts with Germany’s European aims and also by flaws in monetarism.
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Reference
Friedman, M. (1953). Essays in Positive Economics. Chicago: University of Chicago Press.
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Brown, B., Simonnot, P. (2020). The Strategic Choice for Germany. In: Europe's Century of Crises Under Dollar Hegemony. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-46653-4_8
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DOI: https://doi.org/10.1007/978-3-030-46653-4_8
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Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-030-46652-7
Online ISBN: 978-3-030-46653-4
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