Improving the Existing System

Abstract

Admittedly it is easy to find fault with the reform proposals made by others. It would be incomparably more difficult to make a counter-proposal suggesting a bold, imaginative and original reform that would be economically satisfactory, politically acceptable and technically feasible. It is not the object of this book to try to perform that task. But there is an alternative to their plans which is worth considering, even though it is neither original nor ingenious — the Bretton Woods system should be maintained but its interpretation and application should be improved. There must be a great deal of rethinking on those lines.