40 Cards in this Set

Neoliberalism is contemporarily used to refer to market-oriented reform policies such as “eliminating price controls, deregulating capital markets, lowering trade barriers” and reducing, especially through privatization and austerity, state influence in the economy.

Which of the following reflects a response of African feminists to Western feminism in the 1970s and beyond? They criticized Western feminism as a form of cultural imperialism.

The Bretton Woods Institutions—the IMF and World Bank—have an important role to play in making globalization work better. They were created in 1944 to help restore and sustain the benefits of global integration, by promoting international economic cooperation.

What effect did the Bretton Woods system have on globalization after World War II? A. It established rules for commercial and financial dealings among major capitalist countries.

What is the common interest of states with respect to currencies? maintain the value of the state’s currency by limiting the amount of money printed and by preventing high inflation.

The benefits of the Bretton Woods system were a significant expansion of international trade and investment as well as a notable macroeconomic performance: the rate of inflation was lower on average for every industrialised country except Japan than during the period of floating exchange rates that followed, the real …

The Bretton Woods system of fixed exchange rates

• The “pegged rate” or “par value” currency regime.
• The “reserve currency”
• Designing the IMF.
• Subscriptions and quotas.
• Financing trade deficits.
• Changing the par value.
• IMF operations.

Under this standard, countries could hold gold or dollars or pounds as reserves, except for the United States and the United Kingdom, which held reserves only in gold. This version broke down in 1931 following Britain’s departure from gold in the face of massive gold and capital outflows. In 1933, President Franklin D.

Already in 1944 the British economist John Maynard Keynes emphasized “the importance of rule-based regimes to stabilize business expectations”—something he accepted in the Bretton Woods system of fixed exchange rates.

Bretton woods system refers to an agreement negotiated by 703 delegates from 44 countries in July 1944 where currencies were pegged to the United States’ dollar. On the other hand, the gold standard refers to a monetary system that involved linking a country’s currency to gold.

Summary: The Bretton Woods Agreement established a system through which a fixed currency exchange rate could be created using gold as the universal standard. The agreement involved representatives from 44 nations and brought about the creation of the International Monetary Fund (IMF) and the World Bank.

The Bretton Woods System collapsed in the 1970s but created a lasting influence on international currency exchange and trade through its development of the IMF and World Bank.

President Richard Nixon

Gold mining can provide significant sustainable socio-economic development to India. Furthermore, mining helps bring infrastructure investment to a region, and helps initiate and support associated service industries, all of which often persist long beyond the working life of the mine.

Gold mining is a major economic driver for many countries across the world. As well as direct and indirect jobs and employment, gold mining also brings foreign direct investment, foreign exchange and tax revenues to countries.

The metal is abundant enough to create coins but rare enough so that not everyone can produce them. Gold doesn’t corrode, providing a sustainable store of value, and humans are physically and emotionally drawn to it. Societies and economies have placed value on gold, thus perpetuating its worth.