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"The idea of world leaders gathering in the midst of economic crisis has become all too familiar. But the meeting at Bretton Woods in 1944 was different. It was the only time countries from around the world have agreed to overhaul the structure of the international monetary system. Against all odds, they were successful. The system they set up presided over the longest, strongest and most stable period of growth the world economy has ever seen. Its demise some decades later was at least partly responsible for the periodic economic crises that culminated in the financial collapse of the 2000s. But what everyone has always assumed to be a dry economic conference was in fact replete with drama. The delegates spent half the time at each other's throats and the other half drinking in the hotel bar. The Russians nearly capsized the entire project. The French threatened to walk out, repeatedly. All the while war in Europe raged on."--
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Two economists designed the main features of the charter of the IMF during World War II: John Maynard Keynes and Harry Dexter White. Several of those features are attributable primarily to White, including the adoption of fixed but adjustable exchange rates, the funding of operations with national currencies deposited by member states, extending credits through currency swaps rather than conventional loans, making these credits subject to policy conditions, and encouraging members to retain capital controls as an option for use in difficult circumstances. This study of archival material helps to uncover White's role in this design process.
International finance. --- International Monetary Fund. --- White, Harry Dexter, -- 1892-1948. --- Investments: Metals --- Exports and Imports --- Foreign Exchange --- Money and Monetary Policy --- History of Thought: Individuals --- International Monetary Arrangements and Institutions --- Metals and Metal Products --- Cement --- Glass --- Ceramics --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- International Investment --- Long-term Capital Movements --- Investment & securities --- Monetary economics --- International economics --- Currency --- Foreign exchange --- Gold --- Currencies --- Capital flows --- Capital controls --- Commodities --- Money --- Balance of payments --- Capital movements --- United States --- White, Harry Dexter,
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