A sever economic critique of the 1920 Treaty of Versailles written by the famous economist, who was a member of the British peace delegation until he quit with disgust.
The Economic Consequences of the Peace
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“The Economic Consequences of Peace marked the entrance into the world scene of the twentieth century’s most influential economist. It should be in the library of every serious student of world affairs. —Paul A. Volcker, from his introduction”
--This text refers to an alternate
Paperback
edition.
About 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.
--This text refers to an alternate
Paperback
edition.
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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1 of 1 people found the following review helpful
Format:Paperback
One of the most influential books of the early 20th century. Keynes' insightful criticism of the Paris Peace settlement are a must read for anyone interested in the Versailles settlement or interwar Europe. While the opinions and conclusions Keynes has are open to debate, it was this work which has set the standard for agreement or disagreement about the effects of the conference. As much as to its arguments about trade, Keynes book owes its success to its suburb writing and lively style.
1 of 1 people found the following review helpful
Format:Paperback
John Maynard Keynes is the most famous and important economist in the 30¡s decade of 20th century. The insight of this book is very thorough. Keynes¡s way of analysis is well worth to learn. He can balance between the real situation and ideal situation. He suggests three compensation approaches:
¡P Conservative prediction: 20 hundred million
¡P Realistic prediction: 30 hundred million
¡P Optimistic prediction: 40 hundred million
¡P Conservative prediction: 20 hundred million
¡P Realistic prediction: 30 hundred million
¡P Optimistic prediction: 40 hundred million
However, none of the parties support his recommendations. They believe that Germany must bear full responsibility for the war. Therefore, Keynes have written this book and exposed a plot of the Versailles Peace Treaty, which was not only highly exceeded the compensation capacity of Germany, and also it would led the middle part of Europe become pauperization. Therefore, Keynes was disagreeing with the Versailles Peace Treaty. He believed that the Versailles Peace Treaty would bring another crisis to the world and affect the peace of the world. Germany will arouse another war for revenge.
To conclude, the economic consequences of the peace is the beginning of another war.
1 of 1 people found the following review helpful
Format:Paperback
This book gave economist John Maynard Keynes a huge influence on perceptions of the peace treaty signed after World War I -- an influence that has been controversial ever since. Critics still argue over whether Keynes exaggerated the deleterious effects of the treaty on Germany's economy. Some also contend that the account, which was widely read during the 1920s, encouraged both German intransigence to overturning the treaty and Allied acquiescence in allowing it to be overturned -- two key factors in the rise of Hitler and the reconsolidation of German military power before World War II.
Keynes' book remains highly readable in many sections. He was not only a brilliant economist, but a superb writer with a keen eye for the foibles of the great men of his time. However, some sections of the text, such as the one dealing with reparations, are abstruse and less suitable to the modern audience. These are still brilliantly told, but unless you are a grad student or a scholar with a particular interest in the many details of Germany's economy in the early part of the century as well as the demands put on it by the treaty, you are not likely to find these sections as gripping as the others.
The book must be read by those interested in the Versailles Peace Treaty and the aftermath of its signing. Even today, the power of Keynes' argument is evident. I've just recently finished reading Margaret MacMillan's "Paris, 1919," and while I enjoyed the book, I found her arguments against Keynes to be unconvincing. MacMillan says the actual collection of economic claims against Germany was rather modest, less, for example, than Germany collected from France in the aftermath of the 1870 war. But Keynes admitted the allies might not hold Germany to all the economic terms of the treaty. He still felt strongly that many of those terms - whether enforced or not - discouraged sound planning by German investors, companies, and its government, and unnecessarily impoverished the German people. This he felt was bad for not just Germany, but all of Europe.
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An unknown classic
The art of writing a valuable work on a conjuntural topic of politics is a difficult one. One must at the same time have an eye for the detail of ongoing developments as well as... Read more
Published on May 13 2004 by C. E. R. Mendonça
3.0 out of 5 stars
The Economic Consequences of the Peace
"The Economic Consequences of the Peace" is a very enlightening book about the attempt at peace for the post World War I era. Read more
Published on April 12 2004 by Kim
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A prophetic book on the Second World War.
The Economic Consequences of the Peace was written in 1920 by Keynes, who was not already recognized as the most influential economist of the 20th century, a condition he would... Read more
Published on Jun 20 2003 by Roberto P. De Ferraz
5.0 out of 5 stars
Peace which sowed the seeds of its own destruction
Great British economist John Maynard Keynes second book recounts his assessment of the economic consequences of the Treaty of Versailles, where he was a member of British... Read more
Published on Dec 15 2002 by Boris Aleksandrovsky
5.0 out of 5 stars
Peace which sowed the seeds of its own destruction
Great British economist John Maynard Keynes second book recounts his assessment of the economic consequences of the Treaty of Versailles, where he was a member of British... Read more
Published on Nov 3 2002 by Boris Aleksandrovsky
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