Authors:

  • Michael D. Bordo

Excerpt

Putting the 'System' in the International Monetary System. Michael D. Bordo, May 2013, Paper. "The international gold standard of the late nineteenth century has been described as a system of ‘spontaneous order’, capturing the idea that its architects at the time were fashioning domestic monetary systems which created a system of fixed exchange rates almost as a by-product. In contrast the framers of the Bretton Woods System were intentional in building an international monetary system and so it is by advocates of designing an international monetary order. In this paper we examine the transition from spontaneous order..." Link verified March 28, 2014