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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 380.060.0%Nov 25 4:00 PM EST
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To: dvdw© who wrote (40117)9/19/2008 10:14:32 AM
From: elmatador  Read Replies (1) of 218015
 
The postwar Keynesian system was committed to full employment, high public spending, managed exchange rates and international credit agencies whose initial aim was to promote and sustain high trade and welfare. More developed countries (MDCs) prospered under Keynesian economic policies.

Under the postwar Keynesian economic system tiny countries devoided of natural resources, with lousy weather and small internal market achieved a high living standard and amassed a large part of world’s manufacturing output. The majority of the other countries didn’t share this boom.

In one sense, this should not be surprising. It has already been indicated that the postwar international settlement at Bretton Woods included the victors rather than the vanquished of the postwar settlement. Similarly, it excluded the then mainly colonial countries of the Third World which had no initial voice in the postwar global economic settlement.

“...further, is strongly arguable that institutions such as the IMF tend to serve the interest of top countries, MNCs and banks rather than the governments, institutions or peoples of the global economy which they were designed to serve. Holland Stuart, Global Economy, London, George Weidenfeld and Nicholson Ltd., 1987.

I did my reading, Mr. DVD.
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