Or as former Bank of England governor Sir Mervyn King wrote in his book, The End of Alchemy: “The world of Bretton Woods passed away a long while ago, and …
However, Kim Il-sung was the leader of North Korea but his authority was given by [Joseph] Stalin, so generally North Korea still followed the Soviet Union. After China-Soviet relations soured, …
The prevailing view at Bretton Woods rejected the laissez-faire argument that free markets automatically provide full employment. It was believed that public institutions must intervene in difficult times. Delegates established …