The Economic Consequences of the Peace eBook John Maynard Keynes
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The Economic Consequences of the Peace was written and published by John Maynard Keynes. After World War I, Keynes attended the Versailles Conference as a delegate of the British Treasury and argued for a much more generous peace. It was a best seller throughout the world and was critical in establishing a general opinion that the Versailles Treaty was a "Carthaginian peace." It helped to consolidate American public opinion against the treaty and involvement in the League of Nations. The perception by much of the British public that Germany had been treated unfairly in turn was a crucial factor in public support for appeasement. The success of the book established Keynes' reputation as a leading economist. When Keynes was a key player in establishing the Bretton Woods system in 1944, he remembered the lessons from Versailles as well as the Great Depression. The Marshall Plan after Second World War is a similar system to that proposed by Keynes in The Economic Consequences of the Peace.
The Economic Consequences of the Peace eBook John Maynard Keynes
There are a number of surprises throughout this extended essay making it worth your attention. Keynes, still in his thirties, deconstructs the allied treaty at Versailles following the victory over Germany in World War I. His primary criticisms are that the Treaty is vengeful, unfair, and pays little attention to the economic consequences of its terms. At times Keynes is poetic: he is writing in the "dead season of our fortunes" [1919]. His words are urgent, because this Treaty has "destructive significance". It is morbidly prophetic: "If we aim deliberately at this impoverishment of Central Europe, vengeance...will not limp."Keynes' Dickensian sketches of the key Allied players, the UK's Prime Minister, David Lloyd George, France's Prime Minister Georges Clemenceau and the U.S. President, Woodrow Wilson are vivid and devastating. Keynes' "Economic Consequences" is worth reading for these alone. How different a picture of President Wilson we get from Keynes versus what we read in middle school history. To the Cambridge-educated Keynes, Wilson is "slow and unadaptable", elsewhere "ill-informed", "incompetent", a naïve idealist ill-equipped to negotiate a just and lasting peace with more skilled counterparts.
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The Economic Consequences of the Peace eBook John Maynard Keynes Reviews
A youthful John Maynard Keynes, having endured what for him as an honest Englishman and one who possessed such a brilliant , rich turn of phrase, redolent of any historian of any time, in my opinion, has written the definitive reasons for the utter failure of the Treaty of Versailles to even have any prospect of being successful in any way, and that is because the allies simply overreached in their political desire to so humble Germany, the real engine of growth in the economy of Europe, that the most likely consequence of such a political, fiscal political and public humiliation of Germany would likely see a war within less than 20 years.
How could the economic engine of Europe of 1914 possibly pay reparations that were far more punitive than realistic, and, in his view, would never be repaid when her ships were sunk or given away to th the allies, their railway capacity was going to be so degraded that it was not much better than nothing?
But let me conclude with some words from his very first paragraph"Very few of us realise with conviction the intensely unusual, unstable, complicated, unreliable, temporary nature of the economic organization by which Western Europe has lived for the last century. We assume some of the most peculiar and temporary of our late advantages as natural, permanent, and to be depended on, and we lay our plans accordingly.On this sandy and false foundation we scheme for social improvement and dress our political platforms, pursue our animosities and particular ambitions, and feel ourselves with enough margin... to foster, not assuage, civil conflict in the European family. Moved by insane delusions and reckless self regard the German people overturned (these) foundations........... But the spokesman for the French and British peoples have run the risk of completing the ruin which Germany began...."
He concludes his fairly short 116 page book with this dedication we have been moved already beyond endurance, and need rest. Never in the lifetime of men now living has the universal element in the soul of man burnt so dimly... To the formation of the general opinion of the future I dedicate this book."
This book established Keynes as a major economic and political analyst. Because he was a homosexual who became a bisexual, he had great insight into analysis of men and their motivations, strengths, and weaknesses. He knew which weaknesses other men would be able to exploit and how they would do it. Because of his economic analytical skills, he alone was able to see these strengths and weaknesses would lead to parochial outcomes for the Big Four (France, Great Britain, Italy, USA) and an impossible situation for Germany. His prediction of failure of the Peace conditions was validated by the German economic collapse and subsequent rise of the Nazi party. Probably due to Clemenceau and the French who were bailed out by the Brits and Americans. The French were obviously girly-men who lost battles but prevailed in negotiating peace conditions when the American victors sat back and remained silent. As the French surrender-monkeys always do.
This book is a must read for those interested in the economic consequences of the Treaty of Versailles. Keynes was directly involved in the negotiations of the Paris Peace Conference, and gave insights into the inner workings of the negotiations. He was also a good writer, and his descriptions of the main figures involved in the negotiations were masterfully written, giving insights into human nature in general.
The Economic Consequences of the Peace made Keynes famous as an economist and was the source of the mainstream view after WWI that the Treaty of Versailles was a “Carthaginian Peace” unduly harsh towards Germany. Keynes considered the peace terms practically impossible to achieve and will bring down the economy of not just Germany but the whole of Europe. The book is not merely empty theorising, and Keynes used a huge amount of empirical data to back up his points. The Economic Consequences of the Peace is a must read for those interested in history and the economic effects of WWI.
The product quality of the book is excellent, well formatted and well designed.
There are a number of surprises throughout this extended essay making it worth your attention. Keynes, still in his thirties, deconstructs the allied treaty at Versailles following the victory over Germany in World War I. His primary criticisms are that the Treaty is vengeful, unfair, and pays little attention to the economic consequences of its terms. At times Keynes is poetic he is writing in the "dead season of our fortunes" [1919]. His words are urgent, because this Treaty has "destructive significance". It is morbidly prophetic "If we aim deliberately at this impoverishment of Central Europe, vengeance...will not limp."
Keynes' Dickensian sketches of the key Allied players, the UK's Prime Minister, David Lloyd George, France's Prime Minister Georges Clemenceau and the U.S. President, Woodrow Wilson are vivid and devastating. Keynes' "Economic Consequences" is worth reading for these alone. How different a picture of President Wilson we get from Keynes versus what we read in middle school history. To the Cambridge-educated Keynes, Wilson is "slow and unadaptable", elsewhere "ill-informed", "incompetent", a naïve idealist ill-equipped to negotiate a just and lasting peace with more skilled counterparts.
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