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Book synopsis

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 and get people back to work, he depreciated the U.S. dollar in relation to gold and annulled debt contracts retroactively. American Default is the story of this forgotten chapter in America's history. At a time when several major economies are on 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.

Book details

Book category Books in English Economics, finance, business & management Economics Economic history

• Full title: American Default
• Author: Sebastian Edwards
• Language: English
• Binding: Hardback
• Number of pages: 288
• EAN: 9780691161884
• ISBN: 9780691161884
• ID: 18210065
• Publisher: PRINCETON UNIV PR
• Weight: 605 g
• Dimensions: 245 × 167 × 29 mm
• Date of publishing: 22. May 2018

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