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- W41368211 abstract "This chapter focuses on the international monetary arrangements during mid-20th century. The history of international monetary arrangements since the World War II war has been a chequered one. On the one hand stand great achievements. Employment has been maintained, in sharp contrast to the interwar period as a whole. Material progress has been secured on an unprecedented scale, both in the highly developed and in the poor countries. Even in countries that grew more slowly than the average, such as the United States and Britain, the rate of expansion has nevertheless been far higher than before the war. Judged against the fears of a return to interwar misery, the performance has been remarkable. Yet, so far as international monetary agreements are concerned, it has been a case of too little, too late. The wartime reforms in the international monetary system at Bretton Woods can hardly claim much credit for such achievements as there were. The arrangements worked out between 1943 and 1945 broke down as early as 1947. Neither the means made available, nor the rules of the game—and therefore the choice of policy weapons at hand—proved adequate for the reconstruction of a war-shattered world economy." @default.
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- W41368211 date "1973-01-01" @default.
- W41368211 modified "2023-09-25" @default.
- W41368211 title "The Facts Restated" @default.
- W41368211 doi "https://doi.org/10.1016/b978-0-08-017740-3.50008-8" @default.
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