Three Days at Camp David with Jeffrey E. Garten

Jeffrey Garten was Dean of the Yale School of Management until 2005, before that Undersecretary of Commerce for International Trade, and before that a Wall Street investment banker. In his new book, Three Days at Camp David: How a Secret Meeting in 1971 Transformed the Global Economy, he tells a detailed narrative of the forces and protagonists that led up to the “Nixon Shock” and the breakdown in the gold standard that altered the post-war economic order.

In a conversation with Philipp Carlsson-Szlezak, BCG’s global chief economist, Garten argues that the “Nixon Shock” was the right decision, and that the US is experiencing many similar pressures today, and that — while calling a turning point is difficult — the global monetary order may be nearing one.

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