2010 Reprint of 1920 Edition. According to Paul Volcker, 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.
Keynes attended the Versailles Conference as a delegate of the
British Treasury and argued for a much more generous peace. The
book was a best seller throughout the world and was critical in
establishing a general opinion that the Versailles Treaty was a
vindictive and counter-productive peace settlement. The book also
helped to consolidate American public opinion against the treaty
and against 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 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 after Second World War is a similar system to that
proposed by Keynes in The Economic Consequences of the Peace.
General
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