Description
The untold story of how FDR did the unthinkable to save the American economy
The American economy is strong in large part because nobody believes that America would ever default on its debt. Yet in 1933, Franklin D. Roosevelt did just that, when in a bid to pull the country out of depression, he depreciated the US dollar in relation to gold, effectively annulling all debt contracts. From FDR's order for Americans to sell the government all their gold holdings to the Supreme Court confrontation that threatened to finish the New Deal, American Default provides a compelling account of an economic and legal drama that embroiled a nation.Author: Sebastian Edwards
Publisher: Princeton University Press
Published: 09/10/2019
Pages: 288
Binding Type: Paperback
Weight: 0.70lbs
Size: 9.00h x 6.10w x 0.90d
ISBN13: 9780691196046
ISBN10: 0691196044
BISAC Categories:
- Business & Economics | Economic History
- Political Science | Political Economy
- Business & Economics | Money & Monetary Policy
About the Author
Sebastian Edwards is the Henry Ford II Professor of International Economics at the University of California, Los Angeles. His books include Toxic Aid and Left Behind.