The economic consequences of the Peace

The economic consequences of the Peace

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by John Maynard Keynes
     
 

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In 1919, John Maynard Keynes participated in the negotiations of World War I's armistice at the Versailles Peace Conference. A senior Treasury official with the British delegation, Keynes strongly disagreed with terms of reparation imposed on Germany, arguing that German impoverishment would threaten all of Europe. Indeed, the imposition of an economic burden that…  See more details below

Overview

In 1919, John Maynard Keynes participated in the negotiations of World War I's armistice at the Versailles Peace Conference. A senior Treasury official with the British delegation, Keynes strongly disagreed with terms of reparation imposed on Germany, arguing that German impoverishment would threaten all of Europe. Indeed, the imposition of an economic burden that Germany could not pay led to the dismantling of the European market, famine, social unrest, and, ultimately, to World War II. The Economic Consequences of the Peace became an instant best-seller upon its initial publication, its controversial issues transforming Keynes into an overnight celebrity. Its real impact occurred several years later, when the wisdom of Keynes' reasoning was recognized at the close of World War II. The United States and Great Britain followed his advice and undertook an ambitious rebuilding program that paved the way for a solid democratic base in Germany, Italy, and Japan. In addition to its excellent economic analysis of reparations, this volume presents an insightful analysis of the Versailles conference's Council of Four (Georges Clemenceau of France, Prime Minister Lloyd George of Britain, President Woodrow Wilson of the United States, and Vittorio Orlando of Italy). A prophetic view of the European marketplace in the early twentieth century by a brilliant economist, this volume represents a much-studied landmark of economic theory.

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Product Details

ISBN-13:
2940019684229
Publisher:
New York : Harcourt, Brace and Howe
Format:
NOOK Book
File size:
425 KB

Meet the Author

Keynes left Cambridge University to work at Treasury in 1915. He worked daily on financing the war effort during World War I. This disturbed many of the pacifist members of the Bloomsbury Group of which Keynes was a member. Lytton Strachey sent him a note in 1916 asking Keynes why he was still working at Treasury. Keynes quickly established a reputation as one of the Treasury's most able men and travelled to the Versailles Conference as an advisor to the British Government. In preparation for the conference, he argued that there should be no reparations or that, at worst, German reparations should be limited to £2,000 million. He considered that there should be a general forgiveness of war debts which he considered would benefit Britain. Lastly, Keynes wanted the US Government to launch a vast credit program to restore Europe to prosperity as soon as possible.Keynes' general concern was that the Versailles conference should set the conditions for economic recovery. However, the conference focused on borders and national security. Reparations were set at a level that Keynes perceived would ruin Europe, Woodrow Wilson refused to countenance forgiveness of war debts and would not even let the US Treasury officials discuss the credit program.During the conference, Keynes' health deteriorated and he resigned in frustration from his position on 26 May 1919. He retired to Cambridge and wrote The Economic Consequences of the Peace over two months in the English summer.

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The Economic Consequences Of The Peace 4.3 out of 5 based on 0 ratings. 8 reviews.
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Less than useless Google version that they converted via character recognition... Unfortunately the conversion was not very good!
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