The Bretton Woods System: Historical Perspectives

D. John Shaw

Chapter 3 in International Development Co-operation, 2001, pp 95-105 from Palgrave Macmillan

Abstract: Abstract Keynes’ vision of an international economic system rested on four pillars: global economic management, a development finance mechanism, an international trading organization, and an aid programme. This essay traces the background of the vision and assesses what has developed in reality in the past five decades. The reality has veered from the original ideas, with key decisions on global economic and financial matters being made by a few major countries, rather than within a truly multilateral process.

Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28729-7_4

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DOI: 10.1057/9780230287297_4

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