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From the great depression to bretton woods: Jacob Viner and international monetary stabilization (1930-1945)

2009

This paper examines Jacob Viner's contribution to the debate and the policy decision-making concerning international monetary policy from the Great Depression to the Bretton Woods agreements. An outstanding member of the so-called 'early Chicago School of Political Economy', Viner was actively engaged in the debate over the causes and cures of the Depression, emphasizing the important role international economic problems played in producing its onset and in reinforcing its duration. During the 1930s Viner was an outspoken supporter of international monetary cooperation, set up to secure exchange rates stability, which he regarded as a paramount factor in restoring business confidence and fo…