"The dollar went up some eighty percent in real terms as I recall now or something like that - from '80 to '85"
- Robert C. Solomon
About this Quote
This quote by Robert C. Solomon is describing the value of the United States dollar in the 1980s. He is stating that the dollar increased in worth by around 80% in real terms from 1980 to 1985. This means that the buying power of the dollar increased significantly during this duration. This could be due to a number of aspects, such as a strong economy, low inflation, and a stable currency. It might also be because of the fact that the United States dollar was the world's reserve currency at the time, implying that it was used as a safe haven for financiers. Whatever the cause, the outcome was a considerable increase in the worth of the US dollar during this duration. This boost in value would have had a favorable effect on the US economy, as it would have made US exports more competitive and allowed United States citizens to acquire more products and services with their dollars.
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