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DEREGULATION - Coggle Diagram
DEREGULATION
NEO-LIBERALISM
KEYNESIAN MODEL DID NOT WORK
PETRODOLLARS- BANKS- LDC BORROWING
FRIEDMAN> KM DISTORTIVE & INFLATIONARY SPIRALS
VOLCKER> RESTRICTIVE M.P> RECESSION> L.A CRISES
REAGAN>FISCAL POLICY!
LESS TAXES, G, RULES
FRAGILITIES
US FOREVER OUTPERFORMING
2.IMF SUFFICIENT X LIQUIDITY DEMAND
$ BOTH RESERVE AND INTERNATIONAL CURRENCY
UNLIMITED LIQUIDITY
TRIFFIN DILEMMA
IF US STOP PAYMENT DEFICIT>CONTRACTIONARY SPIRAL
IF US DON'T STOP> TOO MUCH $ LESS CONFIDENCE
POSITIVE BW CONSEQUENCES
PRICE AND MONETARY STABILITY
TRADE AND FDI
LOW UNEMPLOYMENT
GROWTH
DOLAR DEVALUATION
WELFARE
LOSS OF COMPETITIVENESS
VIETNAM WAR
WORSENING NX
NIXON 1971
INCONVERTIBILITY OF GOLD
$ DEVALUATION TO GOLD
INCREASED TARIFFS
M.S AND INFLATION INCREASED
OIL CRISES
1973 EMBARGO ON SALES TO US
1979 IRAN-IRAQ WAR
+STAGNATION= STAGFLATION
FRANCE
DE GAULLE PROBLEM
WANT TO RETURN TO GOLD AND MAIN CURRENCIES