Monetary Theory and Bretton Woods: The Construction of an International Monetary Order

Half-title......Page 3
Series-title......Page 5
Title......Page 7
Copyright......Page 8
Contents......Page 9
Preface......Page 11
Acknowledgments......Page 13
1.1. The bretton woods enigma......Page 17
1.2. Monetary systems and monetary theory......Page 21
1.3. A brief outline......Page 31
2 International Monetary Equilibrium and the properties of the gold standard......Page 37
2.1. The classical adjustment mechanism......Page 38
2.2. The properties of the gold standard......Page 47
2.3. Credibility and the evolution of the monetary standard......Page 52
3 The International Monetary System Between the World Wars......Page 58
3.1. The postwar legacy and the return to gold......Page 60
3.2. The great depression and the end of the gold standard......Page 69
3.3. The properties of the monetary system and the role of monetary theory......Page 77
4 The Monetary System in Economic Analysis: the critique of the gold standard......Page 84
4.1. The mainstream and the emergence of the gold exchange standard......Page 85
4.2. Radicals and conservatives......Page 99
4.3. The irreversible crisis of the commodity standard......Page 112
5 The Great Depression: overturning the state of the art......Page 116
5.1. The equilibrium hypothesis and the international monetary system......Page 117
5.2. In search of a new monetary order......Page 128
5.3. The quest for supranational monetary institutions......Page 137
6 Providing for a New Monetary Order......Page 147
6.1. The reform plans......Page 149
6.2. The discussion of the british and american proposals......Page 161
6.3. Alternative models of monetary organization on the eve of bretton woods......Page 169
7 The Bretton Woods Agreements......Page 175
7.1. The joint statement and the organization of the conference......Page 176
7.2. The post-conference academic debate......Page 185
7.3. The significance of the treaty and its demise......Page 199
8 Bretton Woods and After......Page 204
8.1. The crisis of the postwar monetary order......Page 206
8.2. The role of theory......Page 217
8.3. The international monetary system in perspective......Page 223
References......Page 233
Author Index......Page 257
Subject Index......Page 261