Thanks for the links. They are very useful for understanding the system and its breakdown.
I also want to figure out what the effect of the post bretton woods system was in terms of political and economic consequences. There are different opinions on this in the literature but none of them are free market or if they are they might be monetarists which will mean they look positively on the floating currencies system. So 2 questions:
Was/is the post Bretton Woods system a positive for American political power, that is to say that it enhanced American global hegemony? Or did America benefit more from Bretton Woods since other countries were subsidising the American welfare/warfare state?
Would it be fair to say that the post bretton woods system led to directly/indirectly :
a) the oil crisis
c) global monetary instability which result in financial crisises like South Asian financial crisis and the third world debt problems in the late 70’s/early 80’s?