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With World War II still raging, nations came together to create a
new international monetary order, the Bretton Woods system. This
agreement created the International Monetary Fund, the World Bank,
and a system of stable exchange rates with currencies pegged
against the dollar. One man saw the political, economic, and moral
tensions inherent in keeping the dollar, a national currency, as a
global reserve currency. When the monetary arrangement collapsed in
1973, economist Robert Triffin had already predicted its downfall
two decades previously. Robert Triffin, a Belgian-American scholar
and policy advisor, was a defining voice in economics and
international politics in the twentieth century and an architect of
the new multilateral liberal world order in his own right. Best
known for his analysis of the vulnerabilities of the international
monetary system - the "Triffin dilemma" - Triffin was a voice of
reason and compassion in the postwar period. Triffin played a key
role in the debates on European monetary integration, especially
with his proposals for a European Reserve Fund and a European
currency unit, becoming one of the intellectual fathers of Europe's
single currency, the euro. This intellectual biography evaluates
what made Triffin a crucial figure in modern economic history. With
an emphasis on the ideas that shaped the postwar international
system, Robert Triffin: A Life explores both the man and the
mission. In addition to analyzing his work in economics and
policymaking, Ivo Maes and Ilaria Pasotti trace Triffin's story
from a very modest background, as the son of a butcher, who grew up
through the interwar period, to a singularly influential economist
in the late twentieth century. The first biography of one of the
intellectual giants of the postwar era, Robert Triffin critically
examines the accomplishments and the legacy of a scholar who
believed that innovations in economic policy could lead to a better
and more peaceful world.
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