History of Money

I’m working on a political science multi-part question and need an explanation to help me learn.

1.The Economist reading called “A short history of modern finance” summarizes the main elements of the rapid period of financial market changes following the abandonment of Bretton-Woods by US President Nixon in late 1971. Identify and briefly explain the importance of 4 of the main financial innovations since the early 1970s that have had a clear impact on individual investors.

2.Financial relief for individuals and businesses through the covid-19 pandemic has greatly increased the public debt in Canada as well as in many other countries. What does the Rogoff reading “Not a pretty picture” tell us is likely to happen as a result?

3.Central bankers claim that maintaining a moderate level of inflation is justified to avoid the dangers and downsides of deflation. The Economist reading called “Of debt, deflation and denial; The deflation danger”, discusses whether deflation is really a danger that we should worry about. Summarize the main arguments presented in the reading.

4.With reference to the Economist reading “Not-so-divine intervention”, explain what “sterilized intervention in the foreign exchange market” is an what it is supposed to accomplish.

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