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NationMaster - Encyclopedia: Bretton Woods (534 words) |
 | Though multilateral in formal design, therefore, the Bretton Woods system in practice quickly became synonymous with a hegemonic monetary regime centered on the dollar, much in the same manner as the classical gold standard of the nineteenth century had come to be centered on Britain's pound sterling. |
| The chief features of the Bretton Woods system were an obligation for each country to adopt a monetary policy that maintained the exchange rate of its currency within a fixed value—plus or minus one percent—in terms of gold; and the ability of the IMF to bridge temporary imbalances of payments. |
| Bretton Woods established a system of payments based on the dollar, in which all currencies were defined in relation to the dollar, itself convertible into gold, and above all, "as good as gold." The U.S. currency was now effectively the world currency, the standard to which every other currency was pegged. |
| Bretton Woods: Birth and Breakdown - Global Policy Forum - Social and Economic Policy (2619 words) |
| Moreover, the institutions of Bretton Woods were part of a planned global regulatory system for trade and finance. |
| The era of flexible and floating exchange rates that followed the breakdown of the Bretton Woods exchange regime was not really a victory for the principle of national sovereignty as much as a triumph of US financial hegemony. |
| The IMF that was born at Bretton Woods was probably as much as Keynes could have hoped for. |
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