Nixon Shock is a phrase used to describe the aftereffect of a set of economic policies touted by former President Richard Nixon in 1971.

Most notably, the policies eventually led to the collapse of the Bretton Woods system of fixed exchange rates that went into effect after World War II.

Nixon outlined three main goals for the plan:

Creating better jobs

Stemming the rise in the cost of living

Protecting the U.S. dollar from international money speculators.