The Handbook of Globalisation, Third Edition
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The Handbook of Globalisation, Third Edition

Edited by Jonathan Michie

The past 30 years are often depicted as an era of globalisation, and even more so with the recent rise of global giants such as Google and Amazon. This updated and revised edition of The Handbook of Globalisation offers novel insights into the rapid changes our world is facing, and how best we can handle them.
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Chapter 23: A new ‘Bretton Woods’ system?

Mića Panić


International financial and economic crises since the 1970s have often led to calls for another ‘Bretton Woods’ Conference to create a global institutional framework that would prevent similar systemic failures in future. This immediately raises now, as in the past, three important questions: Are new global economic institutions really necessary? What would be their objectives? And how would they be achieved? The world has changed almost beyond recognition since that famous Conference at Bretton Woods, New Hampshire in July 1944. These changes mean that, for reasons explored briefly in this chapter, a new framework of global economic institutions would have to differ, both in its concept and practice, significantly from the one created at Bretton Woods.

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