Breton Woods Regime

Breton Woods Regime - Breton Woods Regime : 1944 : 44...

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Breton Woods Regime : 1944 : 44 countries discuss what the post ww2 monetary regime should look like. What they wanted to do? Not Turn the clock back, but at least imitate it Restrictions on the flow of capital out let the currency . MAKE CURRENCY …. ( missed) Stable exchange rates : preferable in terms of supporting int investments and trade. Eliminate predatory devaluation They can’t go back to the gold standard : Gold is concentrated in the hands of the US Not enough gold EMBEDED LIBERALISM : countries had moved to a set of policies that they were free from the constraints of the gold standard. They could manipulate the currency supply to set the domestic economies : maintain stability domestically Translates into a bureaucratic struggle in the U.S Treasury vs. State department When countries went off gold the Treasury were empowered The third potential actor is the State Department (does not like the idea of liberalism) State department : tight monetary policies
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This note was uploaded on 02/06/2012 for the course POLI 354 taught by Professor Brawley during the Fall '11 term at McGill.

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Breton Woods Regime - Breton Woods Regime : 1944 : 44...

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