ECON-2006EG Study Guide - Quiz Guide: Market Monetarism, Monetary Policy, European Single Market
7 Mar 2021
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Economic development since 1945 and the rise and decline of keynesianism. Lecture outline: uk unemployment 1920"s and 1930"s, golden age of economic growth the best performance western europe has ever had, bretton woods (1994); imf managed global capitalism. Made 2 important decisions: imf would be established they did not want a state exporting their economic problems onto another state. They responded to this by introducing tariffs wanted british people back to work because unemployment was so high, the problem being that other countries would do the same. The second important decision was establishing a fixed exchange rate system. The aim was stable prices to encourage world trade. This required a strict capital control, those capital controls lasted in the british and american cases until the 70"s and then wanted to reduce tariffs worldwide : gatt (1947, marshall plan (1947) First step towards recovering western germany for the economic and trade benefits.
