Paul Volcker was Nixon’s undersecretary of international monetary affairs when Nixon severed the link with gold, and he was head of the Federal Reserve from 1979 until 1987. He did more to shape and guide the dollar-based monetary system before, during, and after these years than anyone. I was lucky enough to know him well so I can personally attest that he was a person of great character, capabilities, influence, and humility—a classic hero/role model in a world that lacks hero/role models, especially in economic public service. I believe that he and his thinking deserve to be studied more.
