Economic theorists and ideas
Kenyes and Hayek primarily disagree on which concepts
Government intervention
This major event was the reason for the conference
WWII
The start and end dates of WWI
July 28, 1914 - November 11, 1918
This economic theory initially wants centralized power before giving it back to the people. There is no private property in this system.
What is communism
This system aimed to reduce the amount of tariffs on trade
GATT
These two institutions were founded at Bretton Woods
World Bank and IMF.
Who were the members of the axis powers in WWII
primarily Germany, Japan, and Italy.
These countries were the primary countries involved in the cold war
The United States and Russia
This economic theorist advocated for government intervention, as economies did not always self-correct.
John Maynard Keynes
The means by which the Bretton Woods system tried to prevent another global economic depression
the treaty of Versailles
Discuss some of the economic impacts of joining the WTO.
- open markets
- economic stability (hopefully)
- potential loss of local markets.
These were some of the positive and negative impacts of WWII
Joined NATO + UN
Grew as an economic power
Impacts on some inflation
This major event caused the end of the Bretton Woods economic system
The end of US dollar to gold and the US dollar as the base reserve
This event triggered the start of the first world war
The assassination of Archduke Ferdinand.
These are the aims of the IMF
furthering international monetary cooperation, encouraging the expansion of trade and economic growth, and discouraging policies that would harm prosperity.
Hayek's experience fleeing fascism and communism led to him having these views on government control
Fear of centralized power (risk of tyranny)
Daily Double
Explain the long term impacts of the institutions from the Bretton Woods systems on developing countries. Also discuss the impacts on globalization
Discuss the beginning of the cold war. Why did it begin and what were some of the major consequences?
Explain answer for points.
Daily double
Discuss some of the pros and cons of the UN and its impacts on world diplomacy.