The Battle of Bretton Woods

My guest today is Dr.Benn Steil.

Dr. Benn Steil is senior fellow and director of international economics at the Council on Foreign Relations in New York. He is also the founding editor of International Finance, a top scholarly economics journal; lead writer of the Council’s Geo-Graphics economics blog; and creator of three web-based interactives tracking Sovereign Risk, Global Monetary Policy, and Central Bank Currency Swaps.  

Dr Steil holds a bachelor degree from University of Pennsylvania and a PhD degree from Oxford University.

Today, we will discuss one of the books of Dr Steil: The Battle of Bretton Woods: John Maynard Keynes, Harry Dexter White, and the Making of a New World Order.

For some of the younger listeners, Bretton Woods System might be a less familiar term. The system actually had a short life: from 1944 when the agreement was established, till 1971 when Richard Nixon announced to terminate the convertibility of USD to gold, it just lasted for less than 30 years. However, the system was one of the foundations of international monetary order after the second world war, and the collapse of the system lead to fundamental changes to the international currency orders thereafter. I believe it would be very interesting for us to understand what happened behind the closed door regarding the formation of Bretton Woods.


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