The United Nations Monetary and Financial Conference at Bretton Woods conference, 1944, was informed by the economic theories of British economist John Maynard Keynes to regulate the international, economic order, post-World War Two. It led to the establishment of the World Bank, the International Bank for Reconstruction and Development (IBRD), the International Monetary Fund (IMF) and the General Agreement on Tariffs and Trade (GATT). In 1995 the World Trade Organization (WTO) replaced GATT.
Joseph E. Stiglitz was awarded a Nobel Memorial Prize in Economic Sciences in 2001 for his analysis of markets with asymmetric information, and is a former Chief Economist and Senior Vice-President of the World Bank. He is arguably one of the most frequently cited economists today.
William Shakespeare: To be, or not to be, that is the question:/Whether tis nobler in the mind to suffer/The slings and arrows of outrageous fortune,/Or to take arms against a sea of troubles/And by opposing end them’. Hamlet, Act 3, Scene 1.
172 participating government representatives attended, 108 at level of heads of state and 2,400 representatives of non-governmental organizations (NGOs) with 17,000 people attending the NGO Forum.
The organizations of the UN system play a critical role in implementing the Rio+20 outcome and advancing sustainable development goals’ (United Nations n.d. b).
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