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Was the Bretton Woods era the era of the most successful capitalism, or the era of...

Was the Bretton Woods era the era of the most successful capitalism, or the era of the least capitalism?

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Expert Solution

Bretton Wood era which spanned from end of second world war to 1970 is considered as era of most successful capitalism. This era was marked by strong and sustainable growth across the world. following events unfolded during this period:

  • Europe was reconstructed during this period. Marshall plan was formed to restore infrastructure of Europe. It was indeed a great step towards the redeveloping ruined economies of Europe.
  • World Bank, IMF and UNO were created through this period. Exchange rate were fixed with respect to dollar. it provided stability to international trade. IMF extended helps to countries who were facing BOP crisis while World bank provided long term loans for undertaking infrastructural projects.
  • International decade of development was announced during this period.

To sum up, Bretton woods era restored faith of public in capitalism and helped to sustain it for well being of societies and nations.

Rahul Sunny answered 2 years ago
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