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International Economic Co-Operation and the World Bank (Paperback, 1st ed. 1996)
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International Economic Co-Operation and the World Bank (Paperback, 1st ed. 1996)
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On December 14, 1945, the House of Commons voted 314 to 50 to
ratify the Agreements negotiated at Bretton Woods, New Hampshire,
nearly a year and a half earlier. Lord Keynes had returned from
Washington to defend the Fund and the Bank, of which he and Harry
White were the principal authors, as well as to justify an American
loan to Britain - following President Harry S. Truman's abrupt
postwar decision to terminate all land-lease assistance to its
wartime allies, an event which induced the Conservative MP Robert
Boothby, to declare: 'This is our economic Munich'. Today, fifty
years later, virtually all the governments of the world have become
members, and the capital subscriptions have increased many fold.
But questions have arisen. Perhaps the Fund and the Bank should be
merged. Some argue that fifty years are enough, at least for the
Bank. Others believe that, while expansion should continue, the
emphasis should be redirected toward the alleviation of poverty in
Africa and southern Asia. This is an account of the historic events
of the interwar years and after. It is also a story about the
liberal philosophies of the political economists, primarily British
and American, who produced two of the great international
institutions of our time.
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