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Item Details
| Title:
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IDEOLOGY AND THE INTERNATIONAL ECONOMY
THE DECLINE AND FALL OF BRETTON WOODS |
| By: |
Robert Leeson |
| Format: |
Electronic book text |
| List price:
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£100.80 |
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further information.
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| ISBN 10: |
023028602X |
| ISBN 13: |
9780230286023 |
| Publisher: |
PALGRAVE MACMILLAN |
| Pub. date: |
9 September, 2003 |
| Synopsis: |
In 1975, US Treasury Secretary William Simon informed the IMF annual meeting that "We strongly believe that countries must be free to choose their own exchange rate system". As flexible exchange rates were legitimised, several leading countries began to experiment with monetary targeting. These two revolutionary policy changes were inter-related: a flexible exchange rate is a precondition for an independent national monetary policy. Having lost one 'sacred' symbol or anchor (fixed exchange rates), central bankers began to experiment with another. Both these developments were the culmination of campaigns led by Milton Friedman during the previous quarter of a century. Robert Leeson examines the process by which Friedman's case for flexible exchange rates was transformed from heresy to academic consensus and lynchpin of the post-1973 international monetary order. The primary focus of this study of political economy is on the organisation and the dissemination of the intellectual and political forces that undermined the Bretton Woods system. |
| Publication: |
UK |
| Imprint: |
Palgrave Macmillan |
| Returns: |
Non-returnable |
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