What dominant economic approach of the Bretton Woods system combined open international markets with domestic state intervention to attain such goals as full employment and social welfare?
A)laissez-faire capitalism
B)embedded liberalism
C)regulated capitalism
D)social liberalism

Question

Quizplus · Accepted Answer

The Bretton Woods system, established in the mid-20th century, advocated for an economic approach known as "embedded liberalism." This approach supported open international markets for trade and investment, but also allowed governments to intervene in their economies to achieve social goals like full employment and welfare, balancing global economic integration with domestic economic stability.

What Dominant Economic Approach of the Bretton Woods System Combined