The Battle of Bretton Woods: John Maynard Keynes, Harry Dexter White, and the Making of a New World Order
By Benn Steil
When turmoil moves global financial and monetary markets, leaders perpetually demand "a new Bretton Woods" to avoid catastrophic monetary affliction and defuse political clash. The identify of the distant New Hampshire city the place representatives of forty four countries accumulated in July 1944, in the course of the century's moment nice struggle, has develop into shorthand for enlightened globalization. the particular tale surrounding the old Bretton Woods accords, even though, is filled with startling drama, intrigue, and contention, that are vividly dropped at existence in Benn Steil's epic account.
Upending the normal knowledge that Bretton Woods was once the manufactured from an amiable Anglo-American collaboration, Steil indicates that it was once in fact a part of a way more bold geopolitical time table hatched inside of President Franklin D. Roosevelt's Treasury and aimed toward getting rid of Britain as an financial and political rival. on the center of the drama have been the antipodal characters of John Maynard Keynes, the well known and innovative British economist, and Harry Dexter White, the dogged, self-made American technocrat. Bringing to undergo new and awesome archival facts, Steil deals the main compelling portrait but of the advanced and arguable determine of White―the architect of the dollar's privileged position within the Bretton Woods financial method, who additionally, very privately, widespread Soviet financial making plans and engaged in clandestine communications with Soviet intelligence officers and brokers over many years.
A remarkably deft paintings of storytelling that unearths how the blueprint for the postwar financial order was once really drawn, The conflict of Bretton Woods is destined to turn into a vintage of monetary and political history.