Exchange Rate Chaos: 25 Years of Financial and Consumer Democracy

The Bretton Woods system ensured a quarter of a century of relative stability on the world's financial markets. The quarter of a century which has followed has brought financial chaos and excessive financial volatility. Exchange Rate Chaos: 25 Years of Financial and Consumer Democracy describes and compares US and British financial history during this period.

It highlights:

• similarities in financial developments between the two countries
• consumer democracy: Have the wishes of consumers dominated exchange rate policy?
• The decline of the small investor and the hegemony of financial institutions
• How the floating exchange rates are manipulated to government advantage

One of the few financial histories to deal with the postwar period, this book shows how financial developments have shaped contemporary society and politics.