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Framing world monetary system reform: Fritz Machlup and the Bellagio Group conferences


  • Carol M. Connell

    () (City University of New York)


This paper explores the influence of Fritz Machlup and the Bellagio Group on world monetary reform. After an examination of the literature, the paper addresses research into Machlup�s framing of the problem of world monetary reform, his method, his selection of economists to join the Bellagio Group, his close working relationship with the treasury and central bank officials who were the deputies of the Group of Ten, and his creation of a broad platform of joint conferences, papers and books to promote their work. Taking an historico-biographical approach, this paper draws on the archives and published works of Fritz Machlup, Robert Triffin and their contemporaries.

Suggested Citation

  • Carol M. Connell, 2011. "Framing world monetary system reform: Fritz Machlup and the Bellagio Group conferences," PSL Quarterly Review, Economia civile, vol. 64(257), pages 143-166.
  • Handle: RePEc:psl:pslqrr:2011:23

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    References listed on IDEAS

    1. Juanita Roushdy, 1987. "The Role of the SDR in the International Monetary System," IMF Occasional Papers 51, International Monetary Fund.
    2. Barry Eichengreen & Harold James, 2003. "Monetary and Financial Reform in Two Eras of Globalization," NBER Chapters,in: Globalization in Historical Perspective, pages 515-548 National Bureau of Economic Research, Inc.
    3. Michael D. Bordo & Alan M. Taylor & Jeffrey G. Williamson, 2003. "Introduction to "Globalization in Historical Perspective"," NBER Chapters,in: Globalization in Historical Perspective, pages 1-10 National Bureau of Economic Research, Inc.
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    More about this item


    world monetary system; Fritz Machlup; Bellagio Group;

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions


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