On August 15, 1971, President Nixon announced that the United States would no longer convert dollars into gold or other primary reserve assets, effectively ending the Bretton Woods regime that had governed post-World War II international monetary relations. Complementing earlier works that emphasize international political and economic factors, Joanne Gowa's book examines the ways in which domestic influences contributed to this crucial action. In Closing the Gold Window, she argues that the mid-1971 decision was the consequence, in part, of the high priority Nixon administration officials assigned to maintaining U.S. freedom of action at home and abroad. She also maintains that the organization of the U.S. government for the conduct of international monetary policy played a role in the decision that ended the Bretton Woods regime.

The former dean of the Yale School of Management and Undersecretary of Commerce in the Clinton administration chronicles the 1971 August meeting at Camp David, where President Nixon unilaterally ended the last vestiges of the gold standard—breaking the link between gold and the dollar—transforming the entire global monetary system. Over the course of three days—from August 13 to 15, 1971—at a secret meeting at Camp David, President Richard Nixon and his brain trust changed the course of history. Before that weekend, all national currencies were valued to the U.S. dollar, which was convertible to gold at a fixed rate. That system, established by the Bretton Woods Agreement at the end of World War II, was the foundation of the international monetary system that helped fuel the greatest expansion of middle-class prosperity the world has ever seen. In making his decision, Nixon shocked world leaders, bankers, investors, traders and everyone involved in global finance. Jeffrey E. Garten argues that many of the roots of America’s dramatic retrenchment in world affairs began with that momentous event that was an admission that America could no longer afford to uphold the global monetary system. It opened the way for massive market instability and speculation that has plagued the world economy ever since, but at the same time it made possible the gigantic expansion of trade and investment across borders which created our modern era of once unimaginable progress. Based on extensive historical research and interviews with several participants at Camp David, and informed by Garten’s own insights from positions in four presidential administrations and on Wall Street, Three Days at Camp David chronicles this critical turning point, analyzes its impact on the American economy and world markets, and explores its ramifications now and for the future.

"These engaging memoirs should be read by everyone who wants the American government to live up to its awesome challenges and to fulfill its noblest dreams."--Robert F. Drinan "Reuss's articulate analysis of legislative matters was admirable, even to those of us who seldom agreed with his conclusions."--John Rhodes, former Republican leader of the U.S. House of Representatives "When Government Was Good is an engaging memoir by one of the most thoughtful and constructive legislators of the century--especially valuable for Henry Reuss's reflections on the inner life of the House of Representatives."--Arthur Schlesinger Jr. U. S. House Representative Henry S. Reuss (Dem., Wisconsin, 1955-83) believes there was indeed a time when government worked--the "Golden Age" of 1948-68. Then, he recalls, the economy was functioning, the long overdue civil rights movement had begun to blossom, and the government had integrity. Not afraid to call things as they are, he blasts the political forces that have led to the disintegration of this Golden Age: economic and racial inequality and excessive militarism. Reuss emerged from the privileged domain of a wealthy, educated, white man into the realities of contemporary world politics--he saw the inequality and poverty in American cities and third world countries, and he saw politicians and laws disrespectful of the environment. Taking these experiences to heart, Reuss took action. He authored the legislation that led to the Peace Corps, he fought for environmental protection, and became a major voice in American politics. When Government Was Good provides anyone interested in public life with insights about this fascinating man's experiences, beliefs and ideas for addressing the problems of the twenty-first century.

Historian Allen J. Matusow now presents the first comprehensive history of Nixon's political economy. He depicts a president who disliked the subject but was forced to pay attention or lose his dream of effecting a historic realignment of the political parties in America. The study derives its authority from extensive archival research in Nixon's presidential papers, including notes by Haldeman and Ehrlichman of crucial conversations in the Oval Office. Matusow shows the poverty of contemporary economic theory, Nixon's willingness to sacrifice the world economy for his domestic political purposes, and his desperate attempts to find something, anything, that might work. Lurching from one set of policies to another, Matusow argues, Nixon achieved only illusory successes that ultimately brought on a decade of economic disaster.