ABSTRACT
The Bretton Woods monetary order had the unique characteristic of being a project designed by experts and, therefore, lends itself to examination from a monetary theory perspective. In fact, the various factors put forward to account for the end of Bretton Woods can be reduced to just one: the influence of monetary theory upon the development of the monetary system. After the unsuccessful attempt of the Tripartite Agreement in September 1936, the objective of reconstructing the monetary system was pursued by the major powers from the outbreak of war. The Great Depression had a major impact upon the economics profession, and led to a general rethinking of the monetary system. The critical assessment of the gold standard after the shock of the First World War weakened the metallist doctrine, one of the two foundations of the classical model.
