This was not an easy task. Solutions were not obvious. In retrospect, there are things we could and should have done differently. But that's the world they were facing. John Maynard Keynes, the British economist and the British representative to the Bretton woods conference, he had an idea for how this could be done. He argued that the international economic system needed to be organized around the principle of balanced trade. And that's what we talk about today. Nations could pursue what Keynes called national self sufficiency through different models of economic development. (19:45–19:59)
CLAIM
Asserts that Keynes proposed organizing the international economic system around balanced trade.
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