The operation and demise of the Bretton Woods system: 1958 to 1971

Michael Bordo explains the BW system: Beginning in 1944, the Bretton Woods system played a major role in shaping the global economy in the post-war period. This column describes how although it was successful in bringing about exemplary and stable economic performance in the 1950s and 1960s, familiar confidence and liquidity problems, as well as […]