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The Economic Consequences of the Peace [Kindle Edition]

John Maynard Keynes
4.1 out of 5 stars  See all reviews (82 customer reviews)

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This book was converted from its physical edition to the digital format by a community of volunteers. You may find it for free on the web. Purchase of the Kindle edition includes wireless delivery.

Editorial Reviews


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”

From the Publisher

Product Details

  • File Size: 271 KB
  • Print Length: 145 pages
  • Page Numbers Source ISBN: 1612790461
  • Simultaneous Device Usage: Unlimited
  • Publisher: Public Domain Books (May 6, 2005)
  • Sold by: Amazon Digital Services, Inc.
  • Language: English
  • Text-to-Speech: Enabled
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  • Word Wise: Not Enabled
  • Lending: Not Enabled
  • Amazon Best Sellers Rank: #4,849 Free in Kindle Store (See Top 100 Free in Kindle Store)
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Customer Reviews

Most Helpful Customer Reviews
52 of 56 people found the following review helpful
5.0 out of 5 stars The Classic Account of the Versailles Peace Treaty July 18, 2003
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.
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75 of 84 people found the following review helpful
1.0 out of 5 stars Not this edition! January 14, 2010
Verified Purchase
Maynard Keynes' Economic Consequences of the Peace has long been recognized as a classic, and it takes on new significance in light of the recent meltdown on Wall Street. But if you want to buy a copy, you should forget this edition. It appears to have been scanned from an earlier copy, but no effort was made to clean up the text after scanning it. As a result, there are whole sections of gibberish, a mix of characters and symbols that makes no sense whatsoever. Much of the book is literally unreadable.
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12 of 13 people found the following review helpful
4.0 out of 5 stars The Consequences of injustice May 23, 2001
By jon
Keynes took the opportunity proffered to him in 1919 to voice the fears of many of his fellow countrymen that the treaty recently signed at Versailles stripping Germany of it's colonies, a substantial portion of it's population, all it's overseas concessions, its air force, any place at the League of Nations and an enormous amount in reparations payments to be made over the coming years, was an act of consummate folly that would only lead to future war. He took great pains to point out the folly of the French position at the conference, namely to be as extreme as possible, cognisant of the fact that their claims would be moderated and noted that in several cases where the British and US delegations had no specific interest, provisions were passed 'on the nod' which even the French would not have subscribed to. Keynes was damning about both Clemenceau and Wilson and pointed out that almost everything had been done which 'might impoverish Germany now or obstruct her development in future' and that to demand such colossal reparations without any real notion of whether Germany had the means to pay was foolhardy in the extreme.
Keynes book provided a fulcrum for British doubt about the treaty and an avenue for British sympathy with the fledgling German Republic. Keynes made treaty revision a thing of morality and enlightened self interest to avoid 'sowing the decay of the whole of civilised life of Europe'.
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17 of 20 people found the following review helpful
5.0 out of 5 stars Nought remains but vindictiveness among the strong July 19, 2006
For Keynes, the Peace Treaty of Paris after World War I was a matter of life and death, of starvation and existence, and the fearful convulsions of a dying civilization.

But the negotiating politicians had absolutely no vision. Clemenceau wanted a Carthaginian peace, President Wilson was essentially a theologian and Lloyd George yielded to national electoral chicane.

The victors had no magnanimity. `The future life of Europe was not their concern; its means of livelihood was not their anxiety. Their preoccupations related to frontiers and nationalities, to imperial aggrandizements, to the future enfeeblement of a strong and dangerous enemy, to revenge and to the shifting of their unbearable financial burden on to the shoulders of the defeated.

But for Keynes, the policy of reducing Germany to servitude for a generation was abhorrent and detestable: `Nations are not authorized, by religion or natural morals, to visit on the children of their enemies the misdoings of parents or of rulers.'

Keynes had the decency to leave the negotiations from the moment he saw the looming disastrous results.

Keynes brilliantly calculated that Germany could not pay the imposed debt. He foresaw the coming German hyperinflation. He clearly recognized the danger of `a victory of reaction' (the right) in Germany, because it would endanger the security of Europe and the basis of peace.

Eventually that's what happened with all its disastrous consequences for Europe.

His prediction of millions of dead from starvation in Germany didn't occur.

This sometimes rather technical book is still a very worth-while read. His author was a visionary.
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Most Recent Customer Reviews
1.0 out of 5 stars keynesianism doesnt work. look around you. do you ...
keynesianism doesnt work.
look around you.
do you prosperity and peace?
Published 20 days ago by Galveston Tea
3.0 out of 5 stars Keynes was Correct
Keynes did the world a favor by exposing the recklessness of the post WW-1 alliance that absolutely set Germany on the path of revenge. Read more
Published 29 days ago by Morris Foutch
4.0 out of 5 stars It was very far sighted book especially at the time ...
It was very far sighted book especially at the time it was written. I think history proved him wright.
Published 29 days ago by Saroj Gulati
5.0 out of 5 stars Great book. Well written and easy to understand
Great book. Well written and easy to understand.
Published 1 month ago by Vernon C. Garcia
4.0 out of 5 stars Keynesian Heavy Vibes
Keynesian Heavy Vibes.
The market never had to be complicated.
But aces and BS artists made it so. Read more
Published 2 months ago by Kindle Customer
5.0 out of 5 stars Five Stars
amazon rocksssss....
Published 2 months ago by Aditya kumar
5.0 out of 5 stars Reparations redux
Keynes’s Consequences of the Peace remains a classic and is probably the best book to read on the subject of German WWI reparations. Read more
Published 3 months ago by reader 451
4.0 out of 5 stars Four Stars
Published 3 months ago by Francis
5.0 out of 5 stars Five Stars
Very enlightening
Published 3 months ago by Vitaus Pecekajus
4.0 out of 5 stars Get this Book
Mr. Keynes is just short of brilliant. He knew when he was putting together the reparation numbers that France and England
wanted Germany to pay, that there was no way... Read more
Published 4 months ago by K. Martin
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