Summary of The Economic Consequences of Peace

The Economic Consequences of Peace is a 1919 book written by John Maynard Keynes after he attended the Paris Peace Conference following the end of the First World War. It is an analysis of the economic, political, and social consequences of the Versailles Treaty on Central Europe. Keynes argues that the peace treaty was excessively severe in reparations for Germany, which left it unable to pay back what it owed to other European nations, and predicted that its economic collapse would lead to further political unrest in Europe and result in more international violence. The book also focuses on the failure of the conference to hold Germany accountable for its role in the conflict, the failure to create a system of international law or provide a platform for peaceful dispute resolution, and the future of European trade. Ultimately, Keynes concluded that the European powers did not adequately address the economic conditions in post-war Europe, and the result was increased poverty and social unrest.