A Tardy Autopsy of the 1943 Keynes Plan for an ‘International Clearing Union’ — its Merits and Drawbacks
Buried at birth in 1943, the Keynes Plan was to be followed to the tomb, in 1971, by the Bretton Woods Agreement inspired primarily by the plan of Harry White. Would an ‘International Clearing Union’ inspired by Keynes’s plan have had a better change of survival? Or might it at the very least offer some essential suggestions for the indispensable reconstruction — to be carried out at some future date — of the international monetary system?
KeywordsExchange Rate Central Bank Foreign Currency International Monetary System Deficit Country
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