The IMF was created to prevent the currency crises that destabilized the 1930s global economy

The 1997 Asian financial crisis tested the limits of the rules-based order's financial architecture

When a currency crisis hit Thailand, Indonesia, and South Korea, the IMF allocated $118B in emergency loans. However, the attached conditions were widely criticized for worsening the economic downturn and increasing distrust of Western-led institutions across the Global South.

The Bretton Woods conference in 1944 created the foundations of the modern global economy

In July 1944, 44 nations gathered in Bretton Woods, New Hampshire, to create a new postwar economic order. The conference led to the creation of the IMF and the International Bank for Reconstruction and Development—now known as the World Bank.

The G20 emerged from the 1997 Asian financial crisis as a forum for managing the global economy

Established in 1999 and elevated to a leaders' summit during the 2008 financial crisis, the G20 now unites the world's largest economies to address issues that the Bretton Woods institutions were not designed to manage.

The failures of the interwar period made the case for a new international system

After World War I, countries devalued their currencies, raised tariffs to block imports, and seized territory unchecked, with the international community unable to organize effectively to stop them. The result was a global depression and, eventually, another world war.

The World Bank, IMF, and WTO all face calls for structural reform

Researchers argue that all three major institutions face legitimacy and effectiveness challenges, including outdated governance structures, unequal voting power, and difficulty adapting to a more multipolar world.

Why the SEC was started

The Securities and Exchange Commission was created during the Great Depression to restore public trust in financial markets after the 1929 crash. Established in 1934, it enforces transparency, investigates fraud, and protects investors by requiring companies to disclose accurate information and holding violators accountable.

The WTO is the global body that sets and enforces the rules of international trade

Founded in 1995, with 164 member countries, the WTO negotiates trade agreements, resolves disputes between nations, and aims to reduce barriers to international commerce.

The US dollar is the most widely circulated currency in the world, and is involved in nearly 90% of global transactions

193 nations are members of the United Nations

The UN's Member States webpage provides an alphabetical list of all 193 member countries, along with the exact dates they were admitted. Take a look at how the UN has expanded over time and understand each nation's place in the global organization.

How the Montreal Protocol supported developing nations in phasing out ozone-depleting substances

Established in 1991, the Multilateral Fund for the Montreal Protocol finances developing nations' transition to cleaner technologies. It has disbursed more than $4B across more than 140 countries and was the first financial mechanism created under an international treaty.

The Federal Reserve follows the health of the US economy by tracking the money supply

That includes all of the physical and electronic money in circulation. It tracks not only US coins and bills, but also the money that moves through bank deposits. The Fed uses metrics called trackers to follow different types of transactions through the money supply.

Modern Monetary Theory 101

Modern Monetary Theory is a macroeconomic theory that says government spending should not be restrained by fears of rising debt. Here's a breakdown of how the theory works.

Why countries have credit ratings

Sovereign credit ratings work like national credit scores, measuring a country’s ability and willingness to repay its debt. Moody’s, S&P, and Fitch are the major agencies assigning these ratings, which influence borrowing costs and investor confidence.

FIDE has governed international chess since 1924

The Fédération Internationale des Échecs was founded in Paris in 1924 to unify global chess rules and competitions. Today, it oversees world championships, regulates ratings, and serves as the official governing body for millions of players worldwide.

The Marshall Plan aimed to rebuild Europe and limit Soviet influence

Launched in 1948, the Marshall Plan provided over $12B (roughly $150B today) in US aid to help rebuild Western Europe. While framed as economic recovery, it also served as a Cold War tool—tying countries to the US and excluding the Soviet bloc.

How public policy shapes demographic trends

This IMF podcast explores the population booms and busts throughout human history. According to Harvard economist and demographer David Bloom, it took more than 50,000 years for the world population to reach 1 billion. But since 1960, we have added...

A gold standard is a system in which a country’s currency is pegged to, and can be converted into, a fixed amount of gold

In principle, this provides price stability as the amount of gold (and therefore the value of the currency) is limited, but also restricts the ability to modulate the money supply during economic downturns.

The Cannes Film Festival was created as a response to fascism

Initially called the International Film Festival, Cannes was created as an alternative to the Venice Film Festival, which French diplomat Philippe Erlanger believed had been politicized by the influence of Hitler and Mussolini.

Switzerland's currency is so strong that it could cause deflation

Economic instability in the United States in 2025 strongly benefited Switzerland, where the value of the franc relative to the dollar increased by about 12.7%. In response, the price of imports dramatically decreased, making goods overall much cheaper.

Hamilton created the First Bank of the United States

As Treasury secretary, Alexander Hamilton proposed the First Bank of the United States to stabilize national finances—serving as the government's fiscal agent, managing debt, and expanding credit through a public-private banking model.

DAI is a popular stablecoin backed by cryptocurrency rather than fiat currency

DAI is backed by collateralized debt denominated in several major cryptocurrencies, including ethereum's ether. It was created by Rune Christensen in 2017 with the goal of helping create a credit system that would allow users to take out loans collateralized by cryptocurrencies.

Read the WEF’s Global Risks Report for 2025

The Global Risks Report is the World Economic Forum’s annual assessment of the most pressing threats facing the world. The 2025 edition highlights declining global optimism, deepening geopolitical and economic tensions, and rising social fragmentation across societies.

Series I bonds are a form of government savings bonds created to shield your investments from inflation

Specifically, I bonds earn interest from both a fixed rate and an inflation rate. This article explains who might benefit from investing in I Bonds—for instance, people seeking to invest savings they do not need to access in the near future.

The Medicis of Italy innovated 'bills of exchange,' precursors to checks

At the time, lending money for interest (also known as usury) was banned in much of the Christian world. The enterprising Medicis developed bills of exchange to allow merchants to promise payment without cash or coin (with some discrete means of earning interest woven in). Learn more about how this family laid the foundation for modern banking.

Fannie Mae and Freddie Mac are federal housing enterprises originally established to offer affordable housing loans to buyers

The Federal National Mortgage Association is commonly called Fannie Mae, and the Federal Home Loan Mortgage Corporation is called Freddie Mac. Since Fannie Mae’s creation in 1938 and Freddie Mac’s in 1970, they’ve become staples of the housing market.

Norway operates the largest SWF in the world—managing more than $2T in assets

The fund is considered the gold standard SWF because of its transparency around investments, politically independent governance, and strong ethical boundaries that serve as the backbone of the investment philosophy. For example, fund managers will not invest in coal, tobacco, or nuclear weapons, because these investments are considered harmful to humanity.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

The United States is one of only around two dozen countries with a fully federal system of government, in which power is divided between national and state governments.

Some coin denominations have ridges etched on their sides, partly to prevent counterfeiting, in a practice called 'reeding.'

Memecoins are a type of cryptocurrency—a form of digital currency with a wide variety of uses—created around popular 'memes,' or viral internet jokes.

Iran's Revolutionary Guard Corps is independent of Iran's regular army and is one of the most powerful and influential military-political organizations in the Middle East.

The first steps to rebuilding your credit score include getting to know exactly what's on your credit report and figuring out how far you are from the '700 club,' or 'good score' range.

The United States has had a tumultuous relationship with Cuba since its 1959 revolution, highlighted by a nuclear crisis and a decades-long trade embargo.

In 2026, Finland was named the world's happiest country for the ninth consecutive year based on its wealth, social safety network, and high life expectancy, among other factors.

The US first hosted the World Cup in 1994, a tournament that lives in soccer infamy for its poor planning and the murder of Colombian player Andres Escobar, who'd accidentally scored on his own net.

While atoms are normally made of protons, neutrons, and electrons, exotic ones have been built with antimatter—alternate versions of normal matter that live for fractions of a second and are about a billion times as rare.

Hookworm infection, though risky, may help fight certain autoimmune conditions by tamping down the immune system's inflammatory response.

In 1945, Surrealist artist Salvador Dalí and legendary animator Walt Disney began collaborating on a short film that was not completed until 2003, years after both men had died.

Scientists can determine Earth's past climate conditions by analyzing air trapped in microscopic bubbles within ice cores—columns of compressed snow layers that build up over hundreds of thousands of years.

The first image of a black hole was captured by creating an Earth-sized virtual observatory from a network of eight radio telescopes.

While the sun's gravity keeps the planets in orbit, their gravity also pulls on the sun, causing it and everything else in the solar system to orbit around a mutual balance point called the barycenter—the true center of the solar system.

Use this tool to calculate the dollar value of your parental mental load, from meal planning to coordinating after-school care, then see resources that help generate solutions.

See how Ebola tore through Guinea, Sierra Leone, and Liberia in 2014-2016.

The term 'algorithm' originated from the Latinized name of al-Khwārizmī, a 9th-century mathematician whose works introduced Arabic numerals and the decimal-based numeral system to Europe and whose treatise 'Al-Jabr' gave algebra its name.

Domino's Pizza's 30-minute delivery guarantee was responsible for the chain's 1980s surge, but it was discontinued after the company was found liable for delivery driver accidents.

Electrical grids worldwide must double their power delivery capacity by 2050 to meet surging demand from AI and electric vehicles.

Apeirophobia is an overwhelming fear of living forever, perhaps stemming from the brain's inability to conceptualize an infinite life.

Fish populations in the Great Barrier Reef have increased after installing waterproof speakers on the ocean floor that played recordings of sounds from healthy coral reefs.