"Major changes have taken place in the global order in the past quarter century. By 1970 the “affluent alliance” of the post-war years was running on to the rocks, and there was growing pressure on corporate profits. Recognizing that the United States was no longer able to play the role of “international banker” that had been so beneficial to the US-based multinationals, Richard Nixon dismantled the international economic order (The Bretton Woods system), suspending the convertability of the dollar to gold, imposing wage-price controls and an import surcharge, and initiating fiscal measures that directed states power, beyond the previous norm, to welfare for the rich. These have been the guiding policies since, accelerated during the Reagan years and maintained by the “New Democrats.” The unremitting class war waged by the businesss sectors was intensified, increasingly on a global scale."
~ Noam Chomsky, Profit Over People, Neoliberalism and Global Order