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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 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.

Suggested Citation

  • Connell, Carol M., 2012. "Reviving Confidence," Journal of the History of Economic Thought, Cambridge University Press, vol. 34(03), pages 293-320, September.
  • Handle: RePEc:cup:jhisec:v:34:y:2012:i:03:p:293-320_00

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