Season 1 · Episode 451
Trump is half way to Keynes’s answer to deficits
Trump is trying to fix a problem that wouldn't have happened if the US had listen to Keynes at Bretton Woods.
Debunking Economics - the podcast · Steve Keen & Phil Dobbie
April 16, 202542m 34s
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Show Notes
In 1944, at Bretton Woods, 44 countries agreed to make the US dollar the world's reserve currency. This decision inflated the dollar's value, making American exports expensive and imports cheaper. Donald Trump is now addressing this imbalance with tariffs on countries with high trade surpluses. Steve suggests that adopting Keynes's proposal for a neutral Bancor currency might have been better, while Phil wonders if it's time to reintroduce it, perhaps calling it “Trump” to appeal to the President’s ego.
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