Download A Retrospective on the Bretton Woods system by Michael D. Bordo, Barry Eichengreen PDF

By Michael D. Bordo, Barry Eichengreen

At the shut of the second one global warfare, while industrialized international locations confronted critical exchange and monetary imbalances, delegates from forty-four international locations met in Bretton Woods, New Hampshire, which will reconstruct the foreign financial approach. during this quantity, 3 generations of students and coverage makers, a few of whom participated within the 1944 convention, give some thought to how the Bretton Woods approach contributed to remarkable fiscal balance and fast development for 25 years and talk about the issues that plagued the method and ended in its eventual cave in in 1971. The participants discover adjustment, liquidity, and transmission lower than the process; how it affected constructing international locations; and the position of the foreign financial Fund in conserving a strong price. The authors learn the explanations for the System's luck and eventual cave in, examine it to next financial regimes, akin to the eu financial approach, and tackle the opportunity of a brand new mounted alternate fee for contemporary global.

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See for example Yves Renouard, ‘‘Les hommes d’affaires italiens et l’avenement de la Renaissance,’’ in Etudes d’histoire me´die´vale, –; Iris Origo, The Merchant of Prato: Francesco di Marco Datini (London, ), esp. –, –. ⁴⁶ For the early development of the concept of market order within scholastic economic thought, see chapter . For later, fourteenth-century refinements, see chapter , – and –.  Monetization and monetary consciousness forced by the growing observation of its capacity to define values not only in the absence of, but also in spite of, attempts by governing agencies to regulate and to control it.

The silver content of the denier or gros of St. Louis remained the standard to which successive French kings sought to return the debased coinage in those rare periods when they found themselves financially able to strengthen the currency. The strong currency of St. Louis ceased to be held as an ideal only after  when the king’s economic advisors had come to recognize that there were simply insufficient supplies of silver for such a revaluation. On this, see Cazelles, ‘‘Mutations de la monnaie,’’ –.

Vols. (Paris, ), vol. , : ‘‘Occasione mutationis monetae debilis in fortem, damnosa seditio, praecipue propter locationes domorum, Parisius exorta est. Cum enim cives Parisius locare domos, et earum locationis pretium in forti moneta, juxta regale statutum, recipere niterentur; (quod tamen communis populis multitudini grave nimium propter triplicationem consueti pretii videbatur) tandem aliqui ex popularibus ipsis tam contra regem quam contra cives conjuncti. ’’ See a similar account in the Chronicon Girardi de Fracheto et anonyma ejusdem operis continuatio, vol.

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