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date: 02 August 2021

Abstract and Keywords

John Maynard Keynes (1883–1946) was born in Cambridge, England, and attended King’s College, Cambridge, where he studied mathematics. While working in the British civil service he wrote his first book on economics, Indian Currency and Finance, an exploration of the Indian monetary system. After briefly lecturing at Cambridge, he returned to government service and worked his way up the bureaucracy at the Treasury. He was the British Treasury’s principal representative at the Versailles negotiations, but he resigned his position because he felt the treaty imposed such a financial burden on Germany as to make her politically unstable in the future. The Economic Consequences of the Peace laid out this case, and its publication in 1919 made Keynes a celebrity. In addition to his cogent and prophetic economic analysis, the book also provided a perceptive account of the motivations of the main negotiators, Britain’s David Lloyd George, France’s Clemenceau, and President Woodrow Wilson, all three of which had their own specific agendas at Versailles.

John Maynard Keynes, The Economic Consequences of the Peace. New York: Harcourt, Brace and Howe, 1920, pp. 226, 234–5, 237–8, 250–1.

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