Wall Street Crash of 1929 (Great Depression)He also began endorsing a more economic nationalist position of protecting domesticeconomies from the negative effects of the Depression-era international economy, butcautioned against the imposition of heavy tariffs, or for any western states to adopt thesort of central panning that existed in the Soviet Union at the time.However, Keynes also did posit certain problems with nationalism, those being itstendency for unpracticality, its need for haste in implementing policy, and itsintolerance/stifling of criticismKeynes and Bretton Woods:By 1944, as WWII began to draw to a close, and the Allies began planning the Post-War global economy, Keynes began to adopt a more internationalist stance onceagain.At the time of the Bretton Woods conference, Keynes was interested in the idea of aninternational currencyHe also strongly forwarded the idea of a World Bank as a rules based institution thatwould allow debtors to immediately access money (This was informed by hisobservances of the struggles of Germany and other debtor nations during the interwarperiod)Keynes viewpoint at this period can largely be summarised in the idea that heforwarded an international system which was characterised by relatively free trade,with countries maintaining a strong domestic presence within the economy.
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