Who would you say has benefitted the most and who has benefitted the least from the international economic system that was created at Bretton Woods and after? Why do you suppose that is? Is the global economic system unfair?

Question

What will be an ideal response?

Answer 1

Ideal Answer: The ideal answer should:
1. Identify key characteristics of Bretton Woods.
2. Compare and contrast the winners and losers of the Bretton Woods process. For example, a student might argue that Western nations and Japan were the winners, as the bulk of rebuilding funds went to these nations. In addition, many would argue that it was not until much later that developing nations benefitted, and even then, it was with great difficulty.
3. Explain why developing nations did not immediately benefit from the Bretton Woods process like the Western nations and Japan did.
4. Discuss the fairness, or lack thereof, of the global economic system. Students may emphasize the position of developing nations in the post World War II era.
5. Offer a concise summary and effective conclusion.