The New Economic Order

In July 1944, when representatives from 44 countries examined the huge Mount Washington hotel at the United Nations Monetary Fund Conference, there was not much to see in Bretton Woods. Nearly a million acres of New Hampshire woods surround this place; there is a free Coca-Cola dispenser, but there are few other obstacles. In this isolated village scene, 168 politicians (and lone female politician, Mabel Newcomer of Vassar College) joined one of the most famous economic countries in history and restructured the world's monetary order. We will create an unprecedented multinational bank that will resist another Great Depression and focus on post-war reconstruction and development.

In fact, some of the new international economic order has not been implemented. Instead, since the 1980s, the Bretton Woods framework has been replaced by the Washington agreement and economic globalization, and will often be called neo-liberal. The economic scope of multinational companies will be greatly expanded, not limited. Product trading will shift from state-led cartels to financial markets. NIEO emphasized that even in the (previous) socialist group, central planning and country-specific resource allocation mechanisms are almost completely denied. The establishment of the World Trade Organization and the proliferation of free trade agreements will usually force reductions in trade barriers, which are strict and mutually beneficial terms.

When the British John Maynard Keynes and the American Harry Dexter White created the new international economic order in the wake of the Second World War in 1944, the future rule of international trade positions the hegemonic power of the West It was. The world is a guardian of the system. One factor that led to the recognition that a new system was necessary was the collapse of the international economic order caused by World War II and the Great Depression. One of the main goals of the meeting to establish a new international economic order is to establish a system to prevent countries from withdrawing from international trade due to the financial crisis. International trade is a prerequisite for a sound and vibrant international economic order, one of the lessons learned from World War II and the Great Depression.

Keynes died too soon. At the end of his life, he is developing a new international economic order to promote international trade. Since international trade grew faster than the domestic economy it is impossible to guess what Keynes will contribute to the world in the 1990s. Because the world is about to enter a new global era. The government is no longer a master of their destiny. Keynes' basic idea is that during economic recession the government should intervene in the economy by stimulating economic activity by circulating funds. This can not be realized in the globalized national economy. The injection of funds into the Australian economy does not necessarily stay in Australia. About half of the so-called "international trade" is actually trade within different parts of the same company. Attempts to stimulate the national economy by the traditional Keynesian method are not necessarily effective