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Why White, Not Keynes? Inventing the Post-War International Monetary System

 

Why White, Not Keynes? Inventing the Post-War International Monetary System

Boughton, James M.
Summary: The international monetary system is largely the product of negotiations during World War II between U.S. and U.K. officials, led respectively by Harry Dexter White and John Maynard Keynes. The design of the system, especially the International Monetary Fund, reflects the U.S. plan much more than the British. That outcome resulted not only from the superior economic position of the United States but also from differences between White's and Keynes's views on key issues. Examination of White's economic papers shows that he was more multilateral than Keynes and placed a higher priority on monetary discipline.
 
Series

Working Paper No. 02/52

http://www.imf.org/external/pubs/ft/wp/2002/wp0252.pdf

 

 

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Comment by John A Morrison on November 9, 2011 at 12:19am

IMF's "Nouveau Rich" Willing To Bail Out Old Europe

The International Monetary Fund used to be an instrument to bail out poor nations and get them in line with the small government ideologies of the West. Come to find out, the West didn't practice what it preached, and now the IMF is bailing out Europe.

 

http://www.bullfax.com/?q=node-imfs-nouveau-rich-willing-bail-out-o...

 

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