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John Maynard Keynes, then a rising young economist, participated in the Paris Peace Conference in 1919 as chief representative of the British Treasury and advisor to Prime Minister David Lloyd George. He resigned after desperately trying and failing to reduce the huge demands for reparations being made on Germany. The Economic Consequences of the Peace is Keynes' brilliant and prophetic analysis of the effects that the peace treaty would have both on Germany and, even more fatefully, the world.
This book provides a historical narrative to tell the story of interwar German reparations - the debates, controversies and diplomacy surrounding the issue from the 1919 Paris peace conference to the abandonment of reparations at the Lausanne Conference in 1932.
Written by a team of scholars, predominantly from the Centre for Financial Studies in Frankfurt, this volume provides a descriptive survey of the present state of the German financial system and a new analytical framework to explain its workings.
This collection of essays covers themes central to German economic history while considering their interaction with other historical phenomena. Among the essays Borchardt considers Germany's late start as an industrial nation, the West-East developmental gradient, key patterns of long-term economic development, and unusual changes in the phenomena of business cycles. The collection also contains the essays which have become the subject of so-called 'Borchardt controversies', in which hypotheses are presented on the economic causes of the collapse of the parliamentary regime by 1929-30, at the very end of the 'crisis before the crisis'. He also explains why there were no alternatives to the economic policies of the slump, and in particular why there was no 'miracle weapon' against Hitler's seizure of power. These are among the most original and stimulating contributions of recent years to the economic history of modern Germany and will be of interest to anyone who ponders deeply the meaning of history.
Designed to secure a lasting peace between the Allies and Germany, the Versailles Settlement soon came apart at the seams. In After The Versailles Treaty an international team of historians examines the almost insuperable challenges facing victors and vanquished alike after the ravages of WW1. This is not another diplomatic history, instead focusing on the practicalities of treaty enforcement and compliance as western Germany came under Allied occupation and as the reparations bill was presented to the defeated and bankrupt Germans. It covers issues such as: How did the Allied occupiers conduct themselves and how did the Germans respond? Were reparations really affordable and how did the reparations regime affect ordinary Germans? What lessons did post-WW2 policymakers learn from this earlier reparations settlement The fraught debates over disarmament as German big business struggled to adjust to the sudden disappearance of arms contracts and efforts were made on the international stage to achieve a measure of global disarmament. The price exacted by the redrawing of frontiers on Germany’s eastern and western margins, as well as the (gentler) impact of the peace settlement on identity in French Flanders. This book was previously published as a special issue of Diplomacy and Statecraft
Few economic events have had a more profound or enduring impact than the German hyperinflation of 1923, still remembered popularly as a root cause of Hitler's rise to power. Yet many historians have argued that inflationary policies were, on balance, advantageous to post-1918 Germany, both boosting growth and helping to reduce reparations. The scholarly consensus is that there was no viable alternative to inflation. In Paper and Iron Niall Ferguson takes a different view. He argues that inflation was indeed an economic and political disaster, and further that there were alternative economic policies which could have stabilised the German currency in 1920. To explain why these were not adopted he points to long-term defects in the political institutions of the Reich which went back as far as the 1890s and which persisted beyond 1918. The book therefore reveals the Wilhelmine origins of Weimar's failure, as well as casting light on the origins of the Third Reich.
Ninety years ago, the League of Nations convened for the first time hoping to create a safeguard against destructive, world-wide war by settling disputes through diplomacy. This book looks at how the League was conceptualized and explores the multifaceted body that emerged. This new form for diplomacy was used in ensuing years to counter territorial ambitions and restrict armaments, as well as to discuss human rights and refugee issues. The League’s failure to prevent World War II, however, would lead to its dissolution and the subsequent creation of the United Nations. As we face new forms of global crisis, this timely book asks if the UN’s fate could be ascertained by reading the history of its predecessor.