The Economic Consequences of the Peace

The Economic Consequences of the Peace is a 1919 work by John Maynard Keynes. The book critiques the Treaty of Versailles, arguing that the harsh reparations imposed on Germany were economically unsustainable and would hinder Europe's recovery. Keynes believed that the treaty's terms were designed to cripple Germany rather than foster lasting peace and economic stability. He contended that the economic analysis of the reparations was flawed, making their payment improbable and ultimately detrimental to the continent. The work also offered scathing portraits of the key figures at the Paris Peace Conference.12