The Great Keynesian Coup of August 1971: Fifty Years Later
by William Anderson via Mises On August 15, 1971, the last remains of what had been a magnificent monetary system died a terrible death, and the American academic, political, business, and media elites led the cheers. The Dow Jones Average jumped by more than 32 points the next day. A de facto national default was spun as a great liberation … Read more