Editing Post-War Economic Order (section)

== <span style="color: #FFFFFF;">Understanding</span> ==
The Post-War Economic Order is understood through '''Stability''' and '''Interdependence'''.

'''1. The "Safety Net" (IMF and World Bank)''':
The leaders at Bretton Woods (like **Keynes**) realized that "Economic Pain" leads to **War**.
* If a country "Goes Broke," it gets "Angry" and "Extreme" (like 'Germany' in the 1930s).
* The **IMF** is a "Pool of Money" that everyone contributes to.
* If you have a "Bad Year," you "Withdraw" from the pool to "Stay Stable."
* It is "Global Insurance" against "Revolution."

'''2. The "Dollar" Anchor (Stability)''':
In the past, "Money" was "Chaos."
* Bretton Woods said: "Let's all agree on **One Value**."
* They chose the **US Dollar** because the US had all the "Gold" and the "Factories" after the war.
* This "Fixed Rate" system allowed "Global Trade" to "Explode" because a "Company in Japan" knew "Exactly" how much its "Sale in London" was worth in "Dollars."

'''3. The "Trust" Shift (Fiat Money)''':
In 1971, the system "Broke."
* The US was "Spending too much" on the Vietnam War.
* There wasn't "Enough Gold" to back all the "Dollars."
* Nixon "Cut the link."
* Today, "Money" is just **Numbers on a Screen**. It works because we all **Trust** that the "System" will keep going. "Value" is now "Social," not "Physical."

'''The 'Keynes vs. White' Debate'''': At Bretton Woods, John Maynard Keynes (UK) wanted a "World Currency" called the **Bancor**. Harry Dexter White (USA) wanted the **US Dollar**. Because the US was the "Only country left standing" after the war, **White Won**. This made the "US" the "Financial Capital of the World" for the next 80 years.
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