Episode Details

By 1925 Great Britain went off the gold standard, managing to increase exports and lessen imports. The U.S. market was flooded with British goods and U.S. industry suffered. In July, 1944 world economic leaders met in Bretton Woods, NH for a "new world economic order" and soon the dollar became the new standard. In 2002 the Euro became the standard currency for the entire European Union and threatened to compete with the dollar. These stories portray the palpable cycle of effects involving trade, domestic growth, inflation, and flexible exchange rates.