English Explanatory Dictionary

Nixon shock

English dictionary entry

Meanings

name
  1. A series of economic measures undertaken by United States President Richard Nixon in 1971, in response to increasing inflation, the most significant of which were wage and price freezes, surcharges on imports, and the unilateral cancellation of the direct international convertibility of the United States dollar to gold.

Word forms

Nixon shock the Nixon shock

Etymology

From Richard Nixon + shock.

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