The Nixon Shock
When Nixon arose to presidency he made some very large changes that changed the course of America’s economy forever. The article titled “The Nixon Shock” by Roger Lowenstein explains in detail all of Nixon’s economic changes when he came into office. The first change that Nixon made was changing the currency to fiat instead of gold. The second plan was to put a freeze on the wage and price controls in order to control inflation. The third change was an increase in the price of imports because of the variation in the exchange rates.