Showing results by author "Benn Steil" in All Categories

When turmoil strikes world monetary and financial markets, leaders invariably call for "a new Bretton Woods" to prevent catastrophic economic disorder and defuse political conflict. The name of the remote New Hampshire town where representatives of 44 nations gathered in July 1944, in the midst of the century's second great war, has become shorthand for enlightened globalization. The actual story surrounding the historic Bretton Woods accords, however, is full of startling drama, intrigue, and rivalry, which are vividly brought to life in Benn Steil's account.

In today's dollar-dominated financial system, changes in U.S. monetary policy can have immediate and significant global effects, wrecking economies and toppling regimes. As a result, for many countries monetary sovereignty is nothing but a dream.

From the acclaimed economist-historian and author of The Marshall Plan, a “timely, riveting” (The Washington Post) new perspective on the political career of Henry Wallace—one that will forever change how we view the making of US and Soviet foreign policy at the dawn of the Cold War. Henry...