History 1807 Lecture Notes - Lecture 38: Bretton Woods System, Finance Capitalism, Deindustrialization
2 Mar 2016
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Document Summary
The postwar economy is relied on the us. Johnson sends a lot of troops to the war. The war is expensive, and takes attention away from other affairs. Johnson (democrat) replaces kennedy and focuses on social welfare. Biggest expansion of welfare state since the great depression. Colony of france- vietnam problems start to happen. Us blows up bretton woods system by taking itself off the gold standard (1972) America was the most powerful nation from 44-64, due to lack of competition. America shows interest in middle east because of oil. The american economy by the 70s, finds itself dependant of countries in middle east. Leaders of middle east countries are put there by the us (corrupt system) People cant afford to drive their cars because of oil prices, automotive industry starts to see a popularity of small cars. America moving from a manufacturing country, to a service country.
