The Bretton Woods Conference of 1944 resulted in the formation
of the International Monetary Fund and World Bank and helped lay
the foundation for an unprecedented expansion of international
commerce. Yet six decades later, at the beginning of the
twenty-first century, the central characteristics of the Bretton
Woods system remain disputed and the subject of continuing public
policy debate.
Relying on extensive access to IMF, World Bank, and other
archives, the contributors to Orderly Change show that the history
of international monetary relations since Bretton Woods is one of
"orderly change" that is, change within a sturdy but supple
framework. Even during the years of fixed exchange rates, very
different practices characterized international monetary relations
immediately after World War II, during the 1950s, and during the
1960s. Later, when the fixed exchange-rate system collapsed,
underlying commitments to trade liberalization in the context of
continuing national economic policy autonomy survived and even
flourished. However, the resulting international economic order is
now in grave danger: the tension between states' autonomy and their
mutual openness has become acute, as international monetary
structures no longer appear capable of mediating between these
objectives. David M. Andrews and the contributors to Orderly Change
examine past transitions as a means of suggesting possible avenues
for current and future policymaking.
Contributors: David M. Andrews, Scripps College; Jeffrey M.
Chwieroth, London School of Economics; Lucia Coppolaro, Universitat
Pompeu Fabrae; E. Richard Gold, McGill University; Eric Helleiner,
University of Waterloo; Louis W. Pauly, University of Toronto;
Wesley W. Widmaier, St. Joseph's University; Anastasia Xenias,
Hunter College, City University of New York; Hubert Zimmermann,
Cornell University"
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