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The Economic Consequences of the Peace

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...
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The Economic Consequences of the Peace

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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.

"The most important economic document relating to World War I and its aftermath." --John Kenneth Galbraith

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Product Details

  • ISBN-13: 9780140188059
  • Publisher: Penguin Group (USA) Incorporated
  • Publication date: 1/28/1995
  • Series: Penguin Twentieth-Century Classics Series
  • Edition description: Reprint
  • Pages: 336
  • Sales rank: 788,313
  • Product dimensions: 4.52 (w) x 7.70 (h) x 0.68 (d)

Meet the Author

John Maynard Keynes (1883-1946) was educated at Eton and at Kings College, Cambridge, where he took his degree in 1905. After a period in the India Office of the Civil Service, he returned to Cambridge as a lecturer in economics. During World War I he held a post at the Treasury and was selected as an economic adviser to the British delegation at the Paris Peace Conference in 1919. He resigned that position in June of that year and wrote and published The Economic Consequences of the Peace, in which he argued against the excessive reparations required of Germany. Between the wars he was a financial adviser and a lecturer at Cambridge. His major and most revolutionary work, The General Theory of Employment, Interest and Money, was published in 1936. Keynes played a central role in British war finance during World War II and, in 1944, was the chief British representative at the Bretton Woods Conference that established the International Monetary Fund. The transformations which Keynes brought about, both in economic theory and policy, were some of the most considerable and influential of the twentieth century, laying, in effect, the foundations for what is now macroeconomics.
Robert Lekachman was a professor of economics at Lehman College, City University of New York, and is the author of The Age of Keynes and Capitalism for Beginners.

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Table of Contents

The Economic Consequences of the Peace Introduction by Robert Lekachman Chapter I: Introductory Chapter II: Europe Before the War Chapter III: The Conference Chapter IV: The Peace Chapter V: Reparation Chapter VI: Europe After the Treaty Chapter VII: Remedies

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Sort by: Showing 1 – 2 of 1 Customer Reviews
  • Posted March 22, 2010

    The Economic Consequences of The Peace

    A prophetic book about the long-term consequences of retaliation of the I World War winners against Germany. Keynes clearly demonstrates how the harsh conditions imposed to Germany plunged the country in starvation, unemployement, riots, revolutionary plots and eventually open the way to nazism. This book has been ignored and/or obscured for long time since it highlights the blind, greedy behavior of Brits and French and somehow forecasts the great turmoil that swept Europe and the whole World in the years onward. Strongly recommended for scholars really dealing with the human History.

    0 out of 1 people found this review helpful.

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  • Anonymous

    Posted January 25, 2010

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