POLSCI 2J03 Lecture Notes - World War I, Curbed, United States Dollar
13 Feb 2014
School
Department
Course
Professor
Document Summary
Ims from fixed to floating and regional currencies. Set arrangements for ims, credit system: it was supposed to ensure economic growth! Creation of the ims, dollar exchange standard and the world bank. The ims was created to try and help / underpin the international monetary system: it would lend country"s money on a short-term basis, would lend some money until obtaining some stability. Western countries committed themselves to support free trade and open economies. If you are going to have a global economy and international trade, there has to be some kind of functioning international monetary system. There has to be access to what is being sold and traded, etc. Problems with gold standard, inter-war system: we"ve never designed the perfect" ims, any system we"ve had has generated problems and issues, it keeps changing overtime! In the 1800s there was the gold standard: allowed good to be sold between countries but did not allow economic growth.
