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The Economic Consequences of the Peace - John Maynard Keynes - The Economic Consequences of the Peace (1919) is a book written and published by the British economist John Maynard Keynes. After the First World War, Keynes attended the Paris Peace Conference of 1919 as a delegate of the British Treasury. In his book, he argued for a much more generous peace, not out of a desire for justice or fairness – these are aspects of the peace that Keynes does not deal with – but for the sake of the economic well-being of all of Europe, including the Allied Powers, which the Treaty of Versailles and its associated treaties would prevent. The book was a best-seller throughout the world and was critical in establishing a general opinion that the treaties were a "Carthaginian peace" designed to crush the defeated Central Powers, especially Germany. It helped to consolidate American public opinion against the treaties and against joining the League of Nations. The perception by much of the British public that Germany had been treated unfairly was, in turn, a crucial factor in later public support for the appeasement of Hitler. The success of the book established Keynes' reputation as a leading economist, especially on the left. 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, which was promulgated to rebuild Europe after the Second World War, was similar to the system proposed by Keynes in The Economic Consequences of the Peace.
This text scrutinizes the motives, actions, and constraints that informed decision making by the various politicians who bore the principal responsibility for drafting the Treaty of Versailles.
Beginning with the novelist Edith Wharton, who toured the front in her Mercedes in 1915, this book describes the wartime experiences of American idealists (and a few rogues) on the Western Front and concludes with the doughboys' experiences under General Pershing. Americans were "over there" from the war's beginning in August 1914, and because America was neutral until April 1917, they saw the war from both the French and German lines. Since most of the Americans who served, regardless of which side they were on, were in Champagne and Lorraine, this sector is the focus. Excerpts from memoirs are supplemented by descriptions of personalities, places, battles and even equipment and weapons, thus placing these generally forgotten American adventurers into the context of their times. A special set of maps based upon German Army battle maps was drawn and rare photographs supplement the text.
NEW YORK TIMES BESTSELLER • Drawing on exhaustive research, this intimate account details how World War I reduced Europe’s mightiest empires to rubble, killed twenty million people, and cracked the foundations of our modern world “Thundering, magnificent . . . [A World Undone] is a book of true greatness that prompts moments of sheer joy and pleasure. . . . It will earn generations of admirers.”—The Washington Times On a summer day in 1914, a nineteen-year-old Serbian nationalist gunned down Archduke Franz Ferdinand in Sarajevo. While the world slumbered, monumental forces were shaken. In less than a month, a combination of ambition, deceit, fear, jealousy, missed opportunities, and miscalculation sent Austro-Hungarian troops marching into Serbia, German troops streaming toward Paris, and a vast Russian army into war, with England as its ally. As crowds cheered their armies on, no one could guess what lay ahead in the First World War: four long years of slaughter, physical and moral exhaustion, and the near collapse of a civilization that until 1914 had dominated the globe. Praise for A World Undone “Meyer’s sketches of the British Cabinet, the Russian Empire, the aging Austro-Hungarian Empire . . . are lifelike and plausible. His account of the tragic folly of Gallipoli is masterful. . . . [A World Undone] has an instructive value that can scarcely be measured”—Los Angeles Times “An original and very readable account of one of the most significant and often misunderstood events of the last century.”—Steve Gillon, resident historian, The History Channel