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Did a Loss of US Hegemony Cause the Breakdown of the Bretton

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Essay

Did a loss of US hegemony cause the breakdown of the Bretton Woods system? Why or why not?


Definitions:

Innovation

The introduction of something new, such as an idea, method, or device, that is designed to improve processes, products, or services.

Wide Imitation

The extensive replication of a product, service, or innovation by multiple competitors or industry participants, often signalling the success or desirability of the original.

Creative Destruction

A process through economic innovation in which older models or structures are destroyed to make way for new advancements.

Diffusion

The process by which a technological innovation, cultural trend, or new idea spreads through a population or society.

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