Eric Helleiner's new book provides a powerful corrective to
conventional accounts of the negotiations at Bretton Woods, New
Hampshire, in 1944. These negotiations resulted in the creation of
the International Monetary Fund and the World Bank-the key
international financial institutions of the postwar global economic
order. Critics of Bretton Woods have argued that its architects
devoted little attention to international development issues or the
concerns of poorer countries. On the basis of extensive historical
research and access to new archival sources, Helleiner challenges
these assumptions, providing a major reinterpretation that will
interest all those concerned with the politics and history of the
global economy, North-South relations, and international
development. The Bretton Woods architects-who included many
officials and analysts from poorer regions of the world-discussed
innovative proposals that anticipated more contemporary debates
about how to reconcile the existing liberal global economic order
with the development aspirations of emerging powers such as India,
China, and Brazil. Alongside the much-studied Anglo-American
relationship was an overlooked but pioneering North-South dialogue.
Helleiner's unconventional history brings to light not only these
forgotten foundations of the Bretton Woods system but also their
subsequent neglect after World War II.
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