The Department of State’s Office of the Historian in the Bureau of Public Affairs convened a conference on March 7, 2011, co-hosted by the George Mason University School of Public Policy, which focused on the Foreign Economic Policy, 1973-1976 volume of the Foreign Relations of the United States (FRUS) series. The keynote address was delivered by Under Secretary of State for Economic, Energy, and Agricultural Affairs Robert Hormats, who authored several key documents in the Foreign Economic Policy, 1973-1976 volume. Transcripts and audio recordings may be accessed on the Office of the Historian website at http://history.state.gov/conferences/2011-foreign-economic-policy/audio-transcripts.
Foreign Economic Policy, 1973-1976 examines U.S. policy during a time of great global economic change, focusing on issues such as the end of the fixed exchange rate system envisioned at the 1944 Bretton Woods conference and the transition to flexible exchange rates; the creation of the G-7 economic summit; the passage of the Trade Act of 1974; the launch of the Tokyo Round of GATT negotiations; and North/South relations and commodity policy in a post-1973 oil embargo world. The significance of the volume and the lessons gleaned from this period by panelists at the conference provided many interesting parallels between the mid-1970s and the present, which are instructive for policy makers, historians, economists, journalists, and the general public alike.
The conference was the inaugural event in the FRUS Special Conference Series, which highlights recently-published FRUS volumes.