Three Perspectives on the Bretton Woods System

Abstract

The twenty years that have passed since the collapse of the Bretton Woods System provide sufficient distance to safely assess the operation of the post-World War II international monetary system. This paper considers the history and historiography of Bretton Woods from three perspectives. First, I ask how the questions posed today about the operation of Bretton Woods differ from those asked twenty years ago. Second, I explore how today's answers to familiar questions differ from the answers offered in the past. Third, I examine the implications of Bretton Woods experience for international monetary reform.