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7min chapter
Lyn Alden: Studying the Financial System
The Alchemy of Money
The Instability of Monetary Systems
This chapter explores the stability of monetary systems, using the example of the Bretton Woods system to illustrate their inherent instability. It discusses the consequences of the US consistently selling its appreciating capital stock for depreciating imports, leading to imbalances that may eventually need to be addressed.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode