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accepted What were the factors that led to stagflation in the United States during the 1970s?
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comment What factors led to the 30% devaluation of pound sterling in 1949?
@Lennart Regebro: Thanks! This short comment is already a good answer. The Swedish and Asians(Thais, Indonesians, Koreans) in the 1990s could have avoided the sudden devaluation had they learnt from the British experience in 1949. Floating currencies devalue more slowly because realities change slowly, unlike fixed currencies. I am wondering ... does this mean that for countries that adopt floating exchange rate will never suffer a sudden devaluation of >20% overnight? Is there a historical precedent when a floating currency suffer a drop of >10% overnight? At least not that I know of.
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comment What factors led to the 30% devaluation of pound sterling in 1949?
@Pieter Geerkens: I believe I do have some knowledge of basic economics. To demonstrate some knowledge of basic economics in a question will bore the reader.
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comment What factors led to the 30% devaluation of pound sterling in 1949?
@Pieter Geerkens: The answerer can assume that the reader has basic economics knowledge so that he need not explain every single sentence. A description of the economic conditions and significant historical events that led to the devaluation should be sufficient. The historical context for the devaluation is more relevant than going into the basics of economics when answering this question.
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accepted What did Germany do after World War II to recover so successfully that it became more prosperous than its WW2 victors?
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revised What factors led to the 30% devaluation of pound sterling in 1949?
edited tags
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asked What factors led to the 30% devaluation of pound sterling in 1949?
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accepted What were the factors that aided Margaret Thatcher in her victory against the trade unions when her predecessors failed?
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comment What were the factors that led to stagflation in the United States during the 1970s?
Thanks. Your answer is short and sharp. The frightening conclusion is that when the world runs out of commodities, we will die of stagflation.
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asked What were the factors that led to stagflation in the United States during the 1970s?
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revised What did Germany do after World War II to recover so successfully that it became more prosperous than its WW2 victors?
deleted 5 characters in body; edited title
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comment What did Germany do after World War II to recover so successfully that it became more prosperous than its WW2 victors?
You are right. The 20th century belonged to the Americans. However, the European countries were still considered major powers in the 20th century. Otherwise, European wars would not have become world wars.