The dominant economic approach during the Bretton Woods system, which combined open international markets with domestic state intervention to attain such goals as full employment and social welfare is called _____.

Question

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The description of combining open international markets with domestic state intervention to attain goals like full employment and social welfare aligns with the concept of embedded liberalism. Mercantilism and fixed exchange rates are not accurate descriptions of the dominant economic approach during the Bretton Woods system. Commercial liberalism may align with open international markets, but it does not include domestic state intervention to achieve social welfare goals.

The Dominant Economic Approach During the Bretton Woods System, Which