The Institute for New Economic Thinking held its second annual plenary conference in Bretton Woods, New Hampshire. In 1944, the same hotel was the site of the negotiations that devised the international financial architecture that prevailed for a generation; this year, 250 economists came to hear presentations by 80 economic experts. Whether you attended or not, you have the opportunity to watch the conference in its entirety on our website.
The conference opened with a call from Institute President Dr. Robert A. Johnson, who emphasized the need to create a community that rebuilds trust in economics and reestablishes the legitimacy of the profession as credible and relevant in the current world.
Over the course of the three-day conference, presentations spanned a range of issues from the challenge to effective international supervision presented by large complex financial institutions, to macroeconomic management after a financial crisis, to the extent that market forces can deliver innovation, education, and infrastructure, to sustainable economics, to current issues in the financial structures of Europe and Asia, and more.
Adair Turner delivered a keynote speech that critiqued economists’ emphasis on GDP growth, and market liberalization, and their indifference to inequality. Gordon Brown gave a stirring speech on his role in the recent economic crisis and the dramatic shift in the economic center of gravity. Martin Wolf engaged Larry Summers in a discussion about the limitations of current economic thinking, and Gillian Tett interviewed George Soros and Paul Volcker about current financial problems. Jim Balsillie led off a striking panel on climate change and sustainability.
We encourage you to browse through the Bretton Woods Conference pages to find videos of each conference session, speaker presentation materials and papers, interviews, and the Bretton Woods Blog.
Significance of the Mount Washington Hotel
In 1944 the United States government chose the Mount Washington Hotel as the site for the first Bretton Woods Conference, which established the World Bank and chose the American dollar as the backbone of international exchange. The meeting provided the world with badly needed post war currency stability.
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