Professor Kevin Gallagher is director of the Global Policy Development Center at Boston University and author with Richard Kozul-Wright of The Case for a New Bretton Woods (Polity Press). He explains how the original Bretton Woods conference of 1944 brought about stable development during the first three postwar decades, how it was unpicked by neoclassical economists and neoliberal politicians and why a Bretton Woods II is needed to put the world ship of state back on course to navigate through today's headwinds.
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