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What economic measure did Shultz support while serving as Secretary of the Treasury?
Supply-side economics
Trickle-down economics
Nixon shock
Keynesian economics
Answer
The Nixon shock refers to a series of economic measures undertaken by the Nixon administration in 1971, including the suspension of the convertibility of the US dollar to gold, a 10% import surcharge, and a 90-day wage and price freeze. These measures were implemented to address the persistent balance of payments deficits and the deterioration of the US dollar's exchange rate.
The Legacy of George Shultz: A Dive into American Political History
More Questions
Specifically, what was Shultz's role in the Bechtel Group after leaving the Nixon administration?
What was Shultz's last Cabinet-level position?
Which controversial military action did Shultz oppose during his time as Secretary of State?
What initiative did Shultz support as a means to revive the ailing economy during his time as Secretary of the Treasury?
Which university did Shultz teach at from 1948 to 1957?
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