On Crisis and 'Third Bretton Woods' Debate

Abstract: Seeking a new currency system after Gold Currency System, gravitate towards a new international architecture. This urgency arises from the deep problems and concerns for the future that are created by the crisis. Actually, the reason behind the first BW system's success was hope of soldiers, who returned from army after the second war, for creating a new economy. If there is no hope today, we should seek the responsibility for this in the environment created by "Second BW" debate. This work is aiming at discussing how to look into international currency system after dealing with history before and after “Second BW” literature. Especially the status of the developing countries after crisis will be the main factor that affects the architecture of 3rd BW. As well, we should get prepared for the new currency areas and tariff, protection enforcements. We believe that when the new currency system, that is intended to be created, motivates the labor markets with its new credit mechanism, the conditions that resolve the crisis can be created