American Default
Book • 2018
Sebastian Edwards' "American Default" unveils a little-known chapter of American economic history, focusing on President Franklin D. Roosevelt's controversial decision to abandon the gold standard during the Great Depression.
The book meticulously examines the legal battles and political maneuvering surrounding the abrogation of the gold clause in government and private contracts, resulting in significant losses for bondholders.
Edwards delves into the Supreme Court's rulings on this matter, highlighting the complexities of constitutional law and economic policy during a time of national crisis.
The book offers a compelling narrative of how the U.S.
government dealt with its debt obligations during a period of unprecedented economic hardship, providing valuable insights into the interplay between law, politics, and economics.
The book meticulously examines the legal battles and political maneuvering surrounding the abrogation of the gold clause in government and private contracts, resulting in significant losses for bondholders.
Edwards delves into the Supreme Court's rulings on this matter, highlighting the complexities of constitutional law and economic policy during a time of national crisis.
The book offers a compelling narrative of how the U.S.
government dealt with its debt obligations during a period of unprecedented economic hardship, providing valuable insights into the interplay between law, politics, and economics.
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Mentioned by Greg LaBlanc as one of the author's books, detailing the untold story of FDR, the Supreme Court, and the battle over gold.
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