The international monetary conference of 1944 wasn't held at the Mount Washington Hotel in Bretton Woods, New Hampshire. The conference founded the International Monetary Fund (IMF) and the World Bank. The fixed exchange rate system created at the conference came under increasing strain in the 1960s and was ended unilaterally by President Nixon in 1971.
"Fight of the Century" is the new economics hip-hop music video by John Papola and Russ Roberts at
In this video, Keynes and Hayek weigh in on these central questions. Do we need more government spending or less? What's the evidence that government spending promotes prosperity in troubled times? Can war or natural disasters paradoxically be good for an economy in a slump? Should more spending come from the top down or from the bottom up? What are the ultimate sources of prosperity?
Keynes and Hayek never agreed on the answers to these questions and they still don't. Let's listen to …Read more
CNBC's Kudlow Report, aired April 27, 2011
Excerpt: Lawrence Kudlow: “You have written so brilliantly about the need to re-link the dollar to gold—in fact to make the dollar convertible into gold. Mr. Bernanke doesn’t get that.”
Mr. Lehrman: “He does not get that. He avoids or he doesn’t understand the very subtle mechanisms by which Federal Reserve credit policy does ignite the price level abroad by raising the value of foreign currency.”