Review the strengths and weaknesses of the gold exchange standard (GES) as the successor to the gold standard, including examining why the GES was established and why it collapsed. Consider the influence of leading nations in the workings of the GES, and evaluate Charles Kindleberger's theory that the absence of a global hegemon doomed the GES. Explore the role of central bank coordination (and lack of it) in the onset of the Great Depression; in contrast to Kindleberger, Barry Eichengreen and others argue that it wasn't the absence of hegemony, but the absence of coordination in the context of an inflexible monetary regime that doomed the global economy to the Great Depression. Finally, assess why the orthodoxy of international economic behavior collapsed. Orthodox policies such as free trade, balanced budgets, stable currencies, the gold standard, and respect for debt claims had characterized international relations for decades before World War I. What about the war and the Depression had undermined the old orthodoxy?