Think about discipline vs. elasticity

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Reference no: EM13984486

At the Bretton Woods Conference in 1944, two proposals were made to manage international payment imbalances: (1) Keynes’ International Clearing Union (or Bancor plan) and (2) the United States’ plan (International Monetary Fund). How were these plans supposed to work? What was the primary deference between them (hint: think about discipline vs. elasticity)?

Reference no: EM13984486

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