In economics, a Swan Diagram, also known as the Australian model (because it was originally published by Australian economist Trevor Swan in 1956 to model the Australian economy during the Great Depression), represents the situation of a country with a currency peg.
The United States economy was primarily responsible for the creation of the Swan diagram
The Great Depression started in the US, which the diagram is based on. However the Depression affected more than just the US and it's unknown if it would have happened had the US economy not crashed first. Furthermore, it's possible the theory would have been created irregardless of the Depression 