IRG 301 Lecture Notes - Lecture 16: Bretton Woods Conference, Bretton Woods System, Imperial Preference
8 May 2016
School
Course
Professor
Document Summary
Capital and slavery: not a one direction event. Movement towards capitalism, free trade, and a re-movement to capitalism. Free trade system that britain supported in the 19th century. Us was considered a great pattern after spanish-american war, but wwi shows the change between a debtor nation to a creditor nation. Worldwide depression in the 1930"s, britain losing its global trade advantage: end of war, britain, germany, and us account for about 10% each of the world"s global trade. Imperial preference: ottawa conference, british self-governing countries, agrees to prefer one another to trade at this convention. Nations begin trying to create institutions to govern world trade after the war. Bretton woods conference, 1944: 44 allied nations gathered met in the us to rash out the ideas of the post war economy, rested on pillars: Currency: before, money was backed by the british pound (gold standard, every dollar backed by a dollar of gold. ) Britain goes of in the 1930"s, other"s follow.
