Tuesday 21, October 2014 by Sarah Owermohle

Bringing Bretton Woods into the new world economy

Seventy years ago this summer, a congregation of world leaders met in Bretton Woods, New Hampshire, to establish the new international monetary order. The 1944 conference also gave birth to two institutions meant to lead reconstruction in post-war economies and usher in an era of development—the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development, which we now know as the World Bank.