this post was submitted on 10 Mar 2026
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The Bretton Woods system was built on Keynesian economics (and Keynes himself played a big role in it). When Bretton Woods collapsed the ideas of assholes from the Chicago school of economics (such as Friedman) took over and shaped monetary policy, fucking over absolutely everything in their path.
It's not the collapse of Bretton Woods as much as the absolutely shitshow that replaced it. American leaders designed a state ideology of capitalism and convinced every idiot it the country to rally behind it.