American Default. The Untold History of FDR, the Supreme Court, and the Battle over Gold

American Default. The Untold History of FDR, the Supreme Court, and the Battle over Gold.
Sebastian Edwards
New Jersey, Princeton University Press, 2018
ISBN: 9780691161884
288 páginas
Precio: 34.57€

Sinopsis: 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 U.S. dollar in relation to gold, effectively annulling all debt contracts. American Default is the story of this forgotten chapter in America’s history.
Sebastian Edwards provides a compelling account of the economic and legal drama that embroiled a nation already reeling from global financial collapse. It began on April 5, 1933, when FDR ordered Americans to sell all their gold holdings to the government. This was followed by the abandonment of the gold standard, the unilateral and retroactive rewriting of contracts, and the devaluation of the dollar. Anyone who held public and private debt suddenly saw its value reduced by nearly half, and debtors–including the U.S. government-suddenly owed their creditors far less. Revaluing the dollar imposed a hefty loss on investors and savers, many of them middle-class American families. The banks fought back, and a bitter battle for gold ensued. In early 1935, the case went to the Supreme Court. Edwards describes FDR’s rancorous clashes with conservative Chief Justice Charles Evans Hughes, a confrontation that threatened to finish the New Deal for good-and that led to FDR’s attempt to pack the court in 1937.
At a time when several major economies never approached the brink of default or devaluing or recalling currencies, American Default is a timely account of a little-known yet drastic experiment with these policies, the inevitable backlash, and the ultimate result.

Recomendados

Población, economía y sociedad en el mundo rural castellano (1500-1850) “Melgar de Arriba en su historia moderna”

Población, economía y sociedad en el mundo rural castellano (1500-1850) “Melgar de Arriba en su historia moderna” José Luis Rodríguez Fernández Glyphos Publicaciones, 2017 ISBN: 978-84-945386-1-2 439 páginas Precio: 23.95

The Great Recession. A subversive View

The Great Recession. A subversive View Carles Manera   Series: The Canada Blanch/Sussex Academic Studie Paperback: 140 pages Publisher: Sussex Academic Press (October 1, 2014) Language: English ISBN-10: 1845196031 ISBN-13:

Protection and Empire “A Global History”

Protection and Empire “A Global History” Bain Attwood, Lauren Benton y Adam Clulow Cambridge University Press, 2017 ISBN: 978-1-108-41786-0 284 páginas Precio: 105.62 €

The First Export Era Revisited. Reassessing its Contribution to Latin American Economics

The First Export Era Revisited. Reassessing its Contribution to Latin American Economics Sandra Kuntz-Ficker (ed.) Palgrave Macmillan, 2017 ISBN 978-3-319-62340-5 348 páginas Precio: 118,99 €

Prácticas agrarias y relaciones sociales. La Casa-Modelo de Labranza de Yurreamendi, Gipúzcoa, 1856-1867

Prácticas agrarias y relaciones sociales. La Casa-Modelo de Labranza de Yurreamendi, Gipúzcoa, 1856-1867 Pedro Berriochoa Azcárate Madrid, Los Libros de la Catarata, 2016 ISBN: 9788490972380 Precio: 14, 50 € 139

Beneficios sin producción. Cómo nos explotan las finanzas

Beneficios sin producción. Cómo nos explotan las finanzas Costas Lapavitsas Madrid, Traficantes de sueños, 2016. ISBN: 9788494460050 457 páginas Precio: 24 €