Re: Why economists do not care about high rates of unemployment w

[Doug Henwood <dhenwood@xxxxxxxxx>]

That had something to do with it - as did the persistent showering of
dollars upon the world through military spending, direct investment, etc.
Also, the Soviets were an important part of the emergence of the
Euromarkets, since they had dollars from hard currency exports that they
weren't allowed to bank in the U.S., so they stashed them in London.

Doug

Doug Henwood [dhenwood@xxxxxxxxx]
Left Business Observer
212-874-4020 (voice)
212-874-3137 (fax)


On Tue, 19 Apr 1994, Anthony D'Costa wrote:

> What is the connection between the breakdown of the Bretton Woods system
> and
> the emergence of Euro markets flush with petro dollars?  Is this also not
> a contributory factor to the breakdown?
>