Boom and bust pattern of gold-exchange 1945-1971

Abstract

This research suggests that U.S. aware that its economic hegemony at the end of World War II (1945) promotes global markets which benefit him and this creates a new international monetary system, the gold-ex- change model and ad hoc institutions. However, has an ideological foe: the USSR and the Communist parties of Western Europe, forced him to give up the submission of the vanquished and rebuild the economies of its allies. The result is the economic recovery of Western Europe and Japan and the global economic expansion of the capitalist system. the success of the process exceeds the imagined, from the sixties industrial growth and technological advancement of Japan and Western Europe allowed to compete successfully against U.S. products which causes the dollar to weaken. In 1971, USA facing the loss of its economic hegemo- ny, renunciation to dollar change fixed in worldwide.