IDEAS home Printed from
MyIDEAS: Login to save this article or follow this journal

Keynes, Globalisation and the Bretton Woods Institutions in the Light of Changing Ideas about Markets

  • Robert Skidelsky

For most of the twentieth century, pessimism about, and hostility to, markets was prevalent and this pulled in an anti-globalist direction. Indeed, the global institutions set up in 1944 were constructed by two market pessimists, John Maynard Keynes, on whom this article concentrates, and Harry Dexter White. The main shift in thinking in our own day has been towards a renewal of the market optimism of the nineteenth century, providing the necessary intellectual condition for the emergence of globalisation as a policy project. Anti-globalism has switched from poor to rich countries. Globalisation offers the best hope for poor countries to catch up with the rich. But growth has become less important for rich countries which could probably abandon the globalist project without much damage to their material standards, and with possible gain to their quality of life. And they may be tempted to do so if the political costs of maintaining a global economy become too high. The implications of such a shift are profound. But Keynes would at least demand that we start thinking about them.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
Download Restriction: no

Article provided by World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE in its journal World Economics Journal.

Volume (Year): 6 (2005)
Issue (Month): 1 (January)
Pages: 15-30

in new window

Handle: RePEc:wej:wldecn:198
Contact details of provider:

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:wej:wldecn:198. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ed Jones)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.