Poli Sci February 2 Lecture

Beyond Sovereignty: Issues for a Global Agenda

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February 2 Lecture International Monetary Fund History: - Un subsidiary – Economic and Social Council - 1944 – Bretton Woods - Sister to World Bank (later) - Weighting voting: most $ in = most votes – US, Germany, UK, Japan - Mandate: Exchange rate and currency stability – keep relative value of currencies to each other stable - Short-terms loans to balance economic troubles (whose idea from Liberalism?) - Currency reserves to help with above = drawing rights Rise after 1970’s: - Nixon Shocks = end of Gold Standard = floating currencies (US $ = Euro’s) - Advising on how to set up and run a state economy (macroeconomic management) - Bailing out failed/failing economies, esp. Latin America 3 Major Roles: - 1980’s Latin America - 1990’s transitions economies - 1997 East Asia Crisis Issues: - Secrecy – how do they debate? Accountability? - Cookie cutter approach – same everywhere - Promote capitalists/Western Interests? – dominated by Western States; oil issues?
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- No concern for social and other issues? – environment, working
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Poli Sci February 2 Lecture - February 2 Lecture...

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