DEVS 230 Lecture Notes - Lecture 2: Marshall Plan, Fixed Exchange-Rate System, Floating Exchange Rate

• School: Queen's University
• Department: Global Development Studies
• Course: DEVS 230
• Professor: Susanne M Soederberg

Document Summary

Think about; international politics & economy, + national politics & economy. Core objectives of week 2: to understand how the bwr operated and why, grasp the bwr through an ipe lens, 3 concerns and conceptual tools from the readings weeks 1 & 2. Inflation rising (especially in germany: protectionism, 1929 great financial crash wipes out savins and banking systems collapse, unemployement, poverty, 1933 great depression ensues in us and elsewhere. Lessons learned: suspcision of government leaders about triggers of ww2. Inflation: laissez-faire governance, protectio(cid:374)is(cid:373) (cid:894)do(cid:374)(cid:859)t like(cid:895, economic thinking tied to pre ww2 thinking, free markets discredited. Goals of the bwr: guide global trader and monetary relations toserve particular rpower interests, a(cid:448)oid eco(cid:374)o(cid:373)ic (cid:449)arfare of (cid:1005)93(cid:1004)(cid:859)s, hekp countries recover from great depression and ww2, stabilize internation monetary system, allow facilitate national economic growth fordism. Imf and global stability: all member countries of imf agree to keep fixed currencies against us dollar to stabilizie.