When turmoil strikes world monetary and financial markets, leaders invariably call for ‘a new Bretton Woods’ to prevent catastrophic economic disorder and defuse political conflict. The name of the remote New Hampshire town where representatives of forty-four nations gathered in July 1944, in the midst of the century’s second great war, has become shorthand for enlightened globalization. The actual story surrounding the historic Bretton Woods accords, however, is full of startling drama, intrigue, and rivalry, which are vividly brought to life in Benn Steil’s epic account.
A remarkably deft work of storytelling that reveals how the blueprint for the postwar economic order was actually drawn, The Battle of Bretton Woods is destined to become a classic of economic and political history.
Benn Steil is senior fellow and director of international economics at the Council on Foreign Relations. His previous book, Money, Markets, and Sovereignty, was awarded the 2010 Hayek Book Prize.