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What economic system did Shultz end as United States Secretary of the Treasury?
Gold Standard
Marxist Economy
Command Economy
Bretton Woods system
Answer
The Bretton Woods system was a post-war international monetary and financial system, characterized by fixed exchange rates between national currencies relative to the US dollar, with the dollar itself defined in terms of gold. Its goals were to promote international trade and avoid the type of competitive currency devaluation that had contributed to the Great Depression of the 1930s.
The Legacy of George Shultz: A Dive into American Political History
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