Το σύστημα του Bretton-Woods : Η δημιουργία του και η κατάρρευσή του
Part of : Αρχείον οικονομικής ιστορίας ; Vol.VIII, No.1-2, 1997, pages 123-144
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123-144
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The Bretton-Woods system : Its creation and its collaps
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The as above article tries to present a historic critical approach to the Bretton-Woods system that dominated the world from 1944 until 1973. Furthermore, it deals with whatever concerns the evolution of the Bretton-Woods system and in consequence it ignores subjects like stagflation, policy of affluent society, confinement of credit money etc. The Bretton-Woods system of fixed exchange rates is based on the leading role of the US dollar as well as on the omnipotence of the United States and it operated satisfactorily until 1960. During this period, its internal contradictions were not highlighted because of the special conditions prevailing at that time. The "paradox" of this system was apparent from 1960 until its real collapse, in August 1971. It collapsed totally in 1973 and the floating exchange rates system dominated ever since. The appreciation of this system is a valuable asset in the effort of creating a new world-wide monetary order and collaboration that nowadays is necessary all over the world, taking into consideration the new monetary relations that will be created in the near future between the European Union and the other countries.
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