The Battle of Bretton Woods

John Maynard Keynes, Harry Dexter White, and the Making of a New World Order

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Author: Benn Steil

Publisher: Princeton University Press

ISBN: 1400846579

Category: History

Page: 464

View: 6674

When turmoil strikes world monetary and financial markets, leaders invariably call for 'a new Bretton Woods' to prevent catastrophic economic disorder and defuse political conflict. The name of the remote New Hampshire town where representatives of forty-four nations gathered in July 1944, in the midst of the century's second great war, has become shorthand for enlightened globalization. The actual story surrounding the historic Bretton Woods accords, however, is full of startling drama, intrigue, and rivalry, which are vividly brought to life in Benn Steil's epic account. Upending the conventional wisdom that Bretton Woods was the product of an amiable Anglo-American collaboration, Steil shows that it was in reality part of a much more ambitious geopolitical agenda hatched within President Franklin D. Roosevelt's Treasury and aimed at eliminating Britain as an economic and political rival. At the heart of the drama were the antipodal characters of John Maynard Keynes, the renowned and revolutionary British economist, and Harry Dexter White, the dogged, self-made American technocrat. Bringing to bear new and striking archival evidence, Steil offers the most compelling portrait yet of the complex and controversial figure of White--the architect of the dollar's privileged place in the Bretton Woods monetary system, who also, very privately, admired Soviet economic planning and engaged in clandestine communications with Soviet intelligence officials and agents over many years. A remarkably deft work of storytelling that reveals how the blueprint for the postwar economic order was actually drawn, The Battle of Bretton Woods is destined to become a classic of economic and political history.

The Marshall Plan

Dawn of the Cold War

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Author: Benn Steil

Publisher: Simon and Schuster

ISBN: 1501102397

Category: History

Page: 624

View: 647

Winner of the 2018 American Academy of Diplomacy Douglas Dillon Award Shortlisted for the 2018 Duff Cooper Prize in Literary Nonfiction “[A] brilliant book…by far the best study yet” (Paul Kennedy, The Wall Street Journal) of the gripping history behind the Marshall Plan and its long-lasting influence on our world. In the wake of World War II, with Britain’s empire collapsing and Stalin’s on the rise, US officials under new Secretary of State George C. Marshall set out to reconstruct western Europe as a bulwark against communist authoritarianism. Their massive, costly, and ambitious undertaking would confront Europeans and Americans alike with a vision at odds with their history and self-conceptions. In the process, they would drive the creation of NATO, the European Union, and a Western identity that continue to shape world events. Benn Steil’s “thoroughly researched and well-written account” (USA TODAY) tells the story behind the birth of the Cold War, told with verve, insight, and resonance for today. Focusing on the critical years 1947 to 1949, Benn Steil’s gripping narrative takes us through the seminal episodes marking the collapse of postwar US-Soviet relations—the Prague coup, the Berlin blockade, and the division of Germany. In each case, Stalin’s determination to crush the Marshall Plan and undermine American power in Europe is vividly portrayed. Bringing to bear fascinating new material from American, Russian, German, and other European archives, Steil’s account will forever change how we see the Marshall Plan. “Trenchant and timely…an ambitious, deeply researched narrative that…provides a fresh perspective on the coming Cold War” (The New York Times Book Review), The Marshall Plan is a polished and masterly work of historical narrative. An instant classic of Cold War literature, it “is a gripping, complex, and critically important story that is told with clarity and precision” (The Christian Science Monitor).

The Summit

The Biggest Battle of the Second World War - fought behind closed doors

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Author: Ed Conway

Publisher: Hachette UK

ISBN: 140552930X

Category: History

Page: 480

View: 5931

The idea of world leaders gathering in the midst of economic crisis has become all-too familiar. But the summit at Bretton Woods in 1944 was the only time countries from around the world have agreed to overhaul the structure of the international monetary system. And, what's more, they were successful - it was the closest to perfection the world's economy has ever been, and arguably the demise of the Bretton Woods system is behind our present woes. This was no dry economic conference. The delegates spent half the time at each other's throats, and the other half drinking in the hotel bar. The Russians nearly capsized the entire project. The French threatened to walk out, repeatedly. John Maynard Keynes had a heart attack. His American counterpart was a KGB spy. But this summit could be instrumental in preventing World War Three. Drawing on a wealth of unpublished accounts, diaries and oral histories, this brilliant book describes the conference in stunning colour and clarity. Bringing to life the characters, events and economics and written with exceptional verve and narrative pace,this is an extraordinarily accomplished work of history from a talented new writer.

Finance and Development, September 2013

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Author: International Monetary Fund. External Relations Dept.

Publisher: International Monetary Fund

ISBN: 1484368460

Category: Business & Economics

Page: 60

View: 9885

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.

The Death of Money

The Coming Collapse of the International Monetary System

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Author: James Rickards

Publisher: Penguin

ISBN: 1101637242

Category: Business & Economics

Page: 384

View: 9930

The next financial collapse will resemble nothing in history. . . . Deciding upon the best course to follow will require comprehending a minefield of risks, while poised at a crossroads, pondering the death of the dollar. The U.S. dollar has been the global reserve currency since the end of World War II. If the dollar fails, the entire international monetary system will fail with it. But optimists have always said, in essence, that confidence in the dollar will never truly be shaken, no matter how high our national debt or how dysfunctional our government. In the last few years, however, the risks have become too big to ignore. While Washington is gridlocked, our biggest rivals—China, Russia, and the oil-producing nations of the Middle East—are doing everything possible to end U.S. monetary hegemony. The potential results: Financial warfare. Deflation. Hyperinflation. Market collapse. Chaos. James Rickards, the acclaimed author of Currency Wars, shows why money itself is now at risk and what we can all do to protect ourselves. He explains the power of converting unreliable investments into real wealth: gold, land, fine art, and other long-term stores of value.

Coined

The Rich Life of Money and How Its History Has Shaped Us

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Author: Kabir Sehgal

Publisher: Hachette UK

ISBN: 1848549032

Category: Business & Economics

Page: 336

View: 7757

Money isn't just coins, bank notes or clamshells; it is more than a store of value or unit of payment. It's an idea, a transformative player in how we view, cope, and harmonise with the world. Money isn't just what makes the world go around; it is largely what makes each of us go around. In Coined, Kabir Sehgal travels the world while presenting a multidimensional portrait of currency through the ages. He explores the origin of exchange in the Galapagos Islands, searches for hoards of coins from an ancient civilization in Bangladesh, and learns about the art that appears on money from coin collectors in Vietnam. He takes you from the vaults beneath the Federal Reserve in New York to a beehive where pollen can be understood as a natural form of exchange. He details the birth of money, to its place in our culture, to how the obsession for it can lead to death and destruction, all the while mixing engaging and entertaining stories from the front lines of global currency exchange with extensive, thoughtful research. The story of money is rich and varied because it is our story.

The World Bank since Bretton Woods

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Author: Edward S. Mason,Robert E. Asher

Publisher: Brookings Institution Press

ISBN: 9780815720300

Category: Political Science

Page: 915

View: 3898

This book examines the origins, policies, operations, and impact of the International Bank for Reconstruction and Development and the other members of the World Bank group: the International Finance Corporation, the International Development Association,and the International Centre for Settlement of Investment Disputes.

Public Policy in International Economic Law

The ICESCR in Trade, Finance, and Investment

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Author: Diane Desierto

Publisher: OUP Oxford

ISBN: 0191026484

Category: Law

Page: 432

View: 9120

States reject inequality when they choose to ratify the International Covenant on Economic, Social and Cultural Rights (ICESCR), but to date the ICESCR has not yet figured prominently in the policy calculus behind States' international economic decisions. This book responds to the modern challenge of operationalizing the ICESCR, particularly in the context of States' decisions within international trade, finance, and investment. Differentiating between public policy mechanisms and institutional functional mandates in the international trade, finance, and investment systems, this book shows legal and policy gateways for States to feasibly translate their fundamental duties to respect, protect, and fulfil economic, social and cultural rights into their trade, finance, and investment commitments, agreements, and contracts. It approaches the problem of harmonizing social protection objectives under the ICESCR with a State's international economic treaty obligations, from the designing and interpreting international treaty texts, up to the institutional monitoring and empirical analysis of ICESCR compliance. In examining public policy options, the book takes into account around five decades of States' implementation of social protection commitments under the ICESCR; its normative evolution through the UN Committee on Economic, Social and Cultural Rights, and the Committee's expanded fact-finding and adjudicative competences under the Optional Protocol to the ICESCR; as well as the critical, dialectical, and deliberative roles of diverse functional interpretive communities within international trade, finance, and investment law. Ultimately, the book shoes how States' ICESCR commitments operate as the normative foundation of their trade, finance, and investment decisions.

Joining Empire

The Political Economy of the New Canadian Foreign Policy

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Author: Jerome Klassen

Publisher: University of Toronto Press

ISBN: 1442666447

Category: Business & Economics

Page: 344

View: 3976

A fresh assessment of the neoliberal political economy behind Canadian foreign policy from Afghanistan to Haiti, Joining Empire establishes Jerome Klassen as one of the most astute analysts of contemporary Canadian foreign policy and its relationship to US global power. Using empirical data on production, trade, investment, profits, and foreign ownership in Canada, as well as a new analysis of the overlap among the boards of directors of the top 250 firms in Canada and the top 500 firms worldwide, Klassen argues that it is the increasing integration of Canadian businesses into the global economy that drives Canada’s new, increasingly aggressive, foreign policy. Using government documents, think tank studies, media reports, and interviews with business leaders from across Canada, Klassen outlines recent systematic changes in Canadian diplomatic and military policy and connects them with the rise of a new transnational capitalist class. Joining Empire is sure to become a classic of Canadian political economy.

The Fourth Revolution

How the Infosphere is Reshaping Human Reality

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Author: Luciano Floridi

Publisher: OUP Oxford

ISBN: 0191667706

Category: Science

Page: 256

View: 4525

Who are we, and how do we relate to each other? Luciano Floridi, one of the leading figures in contemporary philosophy, argues that the explosive developments in Information and Communication Technologies (ICTs) is changing the answer to these fundamental human questions. As the boundaries between life online and offline break down, and we become seamlessly connected to each other and surrounded by smart, responsive objects, we are all becoming integrated into an "infosphere". Personas we adopt in social media, for example, feed into our 'real' lives so that we begin to live, as Floridi puts in, "onlife". Following those led by Copernicus, Darwin, and Freud, this metaphysical shift represents nothing less than a fourth revolution. "Onlife" defines more and more of our daily activity - the way we shop, work, learn, care for our health, entertain ourselves, conduct our relationships; the way we interact with the worlds of law, finance, and politics; even the way we conduct war. In every department of life, ICTs have become environmental forces which are creating and transforming our realities. How can we ensure that we shall reap their benefits? What are the implicit risks? Are our technologies going to enable and empower us, or constrain us? Floridi argues that we must expand our ecological and ethical approach to cover both natural and man-made realities, putting the 'e' in an environmentalism that can deal successfully with the new challenges posed by our digital technologies and information society.