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Profits of Peace - The Political Economy of Anglo-German Appeasement (Hardcover, New)
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Profits of Peace - The Political Economy of Anglo-German Appeasement (Hardcover, New)
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This bold new interpretation of Anglo-German appeasement challenges
existing accounts, both orthodox and revisionist, by focusing on
the economic motivations behind appeasement rather than on the
workings of foreign policy. Scott Newton argues that appeasement
stemmed from the determination of interwar administrations,
particularly that of Neville Chamberlain, to protect the
liberal-capitalist status quo established in the collapse of Lloyd
George's attempts at reconstruction after 1918. Newton shows that
the Government, aided and abetted by the Bank of England, the City,
and large-scale industry, maintained its search for detente well
beyond the outbreak of war, up until Churchill became Prime
Minister in May 1940. The author goes on to reveal that certain
circles within the establishment loyal to the prewar order
continued their efforts to reach agreement with Germany even after
1940. He argues that the Hess affair represented the appeasers'
last throw: the subsequent entry of the USSR and the USA into the
conflict guaranteed the impossibility of a separate Anglo-German
settlement, and combined with war socialism at home to open the
door to a new era characterized by the welfare state and the
Anglo-American special relationship. This is the first major study
to provide a thorough analysis of the domestic political and
economic background to appeasement, and to explain fully the
reasons behind the persistence of the appeasement lobby even beyond
the outbreak of war.
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