Which prominent economist represented the United Kingdom at Bretton Woods and proposed a global currency called the 'Bancor'?
Show answer and explanation
Correct answer: John Maynard Keynes
Keynes advocated for a more flexible international clearing union and a neutral global currency. However, the American plan, led by Harry Dexter White, largely prevailed, placing the U.S. dollar at the center of the system.
Keep practicing
More Bretton Woods System questions
- The 'Nixon Shock' of 1971 effectively ended the Bretton Woods System by:
- Why did the Bretton Woods System face a 'liquidity problem' in the 1960s known as the Triffin Dilemma?
- The Bretton Woods System was designed to avoid the 'beggar-thy-neighbor' policies of the 1930s, which included:
- Which of the following was a major criticism of the Bretton Woods institutions by developing 'Global South' nations?
- What role did the General Agreement on Tariffs and Trade (GATT) play alongside the Bretton Woods System?
- How did the Marshall Plan interact with the early Bretton Woods System?