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The Bretton Woods Institutions were created to support economic recovery after World War II and soon thereafter became important for promoting liberal ideas about economic development throughout the world
The Bretton Woods Institutions were created to support economic recovery after World War II and soon thereafter became important for promoting liberal ideas about economic development throughout the world.
Three major international organized emerged: The International Monetary Fund, the World Bank, and the General Agreement on Tariffs and Trade (later to become the World Trade Organization).
1)How do these institutions reflect a Keynesian approach to economic liberalism?
2)How were they supposed to aid developing countries? (To answer this question, consider the core functions of each institution and ideas about economic growth and effective economic policies that inspired them.)
3)Critics of the Bretton Woods Institutions often argue that they actually were intended to promote the interests of the world's wealthiest and most powerful capitalist countries in the Cold War and beyond. What evidence is there that this is a valid argument? What evidence is there that any or all three institutions actual take the interests of less developed countries into account?
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