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What is the embedded liberalism compromise? Explain how it is evident in the post-World War II international monetary regime.

What is the embedded liberalism compromise? Explain how it is evident in the post-World War II international monetary regime.

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Expert Solution

The term "Embedded liberalism" was coined by an American scientist John Ruggie in the year 1982.

Embedded liberalism compromise refers to the settlement between two conflicting objectives which are advantageous.

It was introduced during world war I , but it was embodied in a system that were launched after the world war II. The main objective of this system was to create a open system for trading at international level.

In 1944, the new international monetary system was made at Bretton Woods it's main aim was to promote growth of economy and facilitate conversion of currencies for the sake of international trade.

This was an international movement which shows that the countries which trade with each other don't go for the world war against each other.

Embedded liberalism subsisted as an important part in international political economy from post world war II till 1970.

Rahul Sunny answered 2 years ago
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