1. Introduction 5
2. Explaining Change in Foreign Economic Policy 15
International Market Conditions 17
International Security and Power Structure 30
Domestic Politics 39
Organization and internal Bargaining 50
Ideas 58
Conclusion 76
3. Creating a New International Money 79
The Bretton Woods International Monetary Regime 80
U.S. Policy in 1961-1962 88
Market Pressure against the Dollar 109
Rising European Strength 112
Domestic Politics 124
The Spread of Triffinism and the Allergy to Exchange-Rate Change 130
Policy-Making Organization and Process 154
Conclusion 161
4. Going off Gold and Forcing Dollar Depreciation 165
The Late 1960s 169
Bifurcation of the Early Nixon Policy 183
Swelling Deficits and Dollar Depreciation 199
Power Shift and Sovereign Stalemate 208
Domestic Discontent and Domestic Policy Response 233
Thinking the Unthinkable and Using Coercion 239
Organization and Internal Bargaining 267
The Simthsonion Compromise 271
Conclusion 288
5. Farewell to Bretton Woods 292
Changes in Domestic Politics 294
International Power Structure 294
Ambiguous Market Conditions 297
Transnational Actors’ Capabilities and Confidence 299
“Ideological Floaters” Rise to the Top 305
Bargaining among States and Transnational Actors 313
Centralized Decision Making 326
The Uncertain Seventies 327
Conclusion 340
6. Conclusions: Markets, Power, and Ideas 344
Domestic Politics 345
Organization and Internal Bargaining 348
International Market Conditions 351
International Security and Power Structure 355
Ideas 362
The Dynamics of Policy Learning 367
INDEX 377