POLS2094 Lecture Notes - Lecture 4: Truman Doctrine, Ge Capital, Plaza Accord
Document Summary
Money- currency: money is not very common in pre-capitalist societies, most people use it infrequently, many things lands, castles cannot be converted into money easily or at all. In capitalist society money is everywhere and almost everything can be converting into it and it can be converted into almost everything tangible. How to value currency: the uk defi(cid:374)ed sterli(cid:374)g"s (cid:448)alue i(cid:374) ter(cid:373)s of gold i(cid:374) (cid:1005)7(cid:1005)7, golden standard, there is no single currency, the currency is issued by the trade, the low currency is good for exporters. Imf, i(cid:374)ter(cid:374)atio(cid:374)al mo(cid:374)etar(cid:455) fu(cid:374)d"s international bank for reconstruction and development, gatt: bretton woods, new hampshire, 1st july 1944 43 countries, all countries have same obligations. But the size of the quota not only determines size. Imf and wb set up here of (cid:373)e(cid:373)(cid:271)er"s (cid:272)o(cid:374)tri(cid:271)utio(cid:374) a(cid:374)d its dra(cid:449)i(cid:374)g rights, but also its voting rights. In fact, the key role in reconstruction f western europe was the marshall plan.
