REVIVING CONFIDENCE

This paper examines two competing proposals for reforming and reviving confidence in the world monetary system, and the two economists, Robert Triffin and Fritz Machlup, who led the charge, one for centralized reserves, and the other for flexible exchange rates. Triffin would later claim that no one...

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Bibliographic Details
Published in:Journal of the history of economic thought 2012-09, Vol.34 (3), p.293-320
Main Author: CONNELL, CAROL M.
Format: Article
Language:English
Subjects:
Bellagio Group conferences
Economic reform
Economists
Financial reforms
Financial systems
Flexible exchange rates
Monetary systems
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Summary:This paper examines two competing proposals for reforming and reviving confidence in the world monetary system, and the two economists, Robert Triffin and Fritz Machlup, who led the charge, one for centralized reserves, and the other for flexible exchange rates. Triffin would later claim that no one did more to ensure that floating exchange rates emerged the winner in the policy debate than Machlup because of his influence on academic economists and policy makers through the Bellagio Group conferences. The Bellagio Group conferences and Machlup’s leadership role are examined.
ISSN:1053-8372
1469-9656
DOI:10.1017/S105383721200034X