Skip to main content Accessibility help

We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.

Close cookie message
×
Hostname: page-component-cd9895bd7-jn8rn Total loading time: 0 Render date: 2024-12-23T03:22:02.980Z Has data issue: false hasContentIssue false

9 - Why Was Keynes Opposed to Reparations and a Carthaginian Peace?

Published online by Cambridge University Press:  14 December 2023

By
Elise S. Brezis
Edited by
Patricia Clavin ,
Giancarlo Corsetti ,
Maurice Obstfeld  and
Adam Tooze
Patricia Clavin
Affiliation:
University of Oxford
Giancarlo Corsetti
Affiliation:
University of Cambridge
Maurice Obstfeld
Affiliation:
Peterson Institute for International Economics, Washington DC
Adam Tooze
Affiliation:
Columbia University, New York
Get access

Summary

The Economic Consequences of the Peace was first published in 1919 and, since then, changed the economic discourse surrounding reparations and Carthaginian peace. This chapter specifies how three elements hinted at in the introduction of the Economic Consequences of the Peace – social classes, national sovereignty, and the international political system – can explain Keynes’ assessment of Carthaginian peace. The chapter analyses the optimality of reparations in the context of these three elements.

Keywords

Balance of PowerCarthaginian PeaceHegemonyReparationsNational Sovereignty
Type
Chapter
Information
Keynes's Economic Consequences of the Peace after 100 Years
Polemics and Policy
 , pp. 234 - 256
Publisher: Cambridge University Press
Print publication year: 2024

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Akerlof, G. A. and Kranton, R.. (2000). “Economics and Identity,” The Quarterly Journal of Economics, 115(3): 715–753.Google Scholar
Akerlof, G. A. and Kranton, R.. (2010). Identity Economics. Princeton University Press.Google Scholar
Bar-Siman Tov, Y. (2004). From Conflict Resolution to Reconciliation. Oxford University Press.Google Scholar
Binkley, R. C. (1929). “Ten Years of Peace Conference History,” The Journal of Modern History, 4: 607–629.CrossRefGoogle Scholar
Brezis, E. S. (1995). “Foreign Capital Flows in the Century of Britain’s Industrial Revolution: New Estimates, Controlled Conjectures,” Economic History Review, February, pp. 46–67.Google Scholar
Brezis, E.S. (2003). “Mercantilism”, Oxford Encyclopedia of Economic History.Google Scholar
Brezis, E. S. and Hellier, J.. (2018). “Social Mobility at the Top and the Higher Education System,” European Journal of Political Economy, 52: 36–54.Google Scholar
Brezis, E. S. and Temin, P.. (2008). “Elites and Economic Outcomes,” In Durlauf, S. and Blume, L., eds., New Palgrave Dictionary of Economics, Macmillan.Google Scholar
Brezis, E. S. and Temin, P., eds. (1999). Elites, Minorities and Economic Growth, Holland, North: Elsevier.Google Scholar
Brezis, E. S., Krugman, P. and Tsiddon, D.. (1993). “Leapfrogging in International Competition,” American Economic Review, December, pp. 211–19.Google Scholar
Brito, D. and Intriligator, M. (1976). “Strategic Weapons and the Allocation of International Rights,” In Gillespie, John V. and Zinnes, Dino A., eds., Mathematical Systems in International Relations Research, New York: Praeger.Google Scholar
Calleo, D. P. and Rowland, B. M. (1973). America and the World Political Economy, Bloomington: Indiana UP.Google Scholar
Ciampani, A. and Tolomeo, R.. (2015). “The Need for an Interpretive Framework in the History of European Élites.” In Ciampani, A. and Tolomeo, R., eds., National Identities and Transnational European Élites, 5–13, Soveria Mannelli: Rubbettino Editore.Google Scholar
Cline, R. S. (1980). World Power Trends and US Foreign Policy for the 1980s, Routledge.Google Scholar
Coleman, J. S. (1986). “Social Theory, Social Research and a Theory of Action,” American Journal of Sociology, 91(6), 1309–1335.Google Scholar
Gallagher, J. and Robinson, R. (1953). “The Imperialism of Free Trade,” Economic History Review, 6(1), 1–15.Google Scholar
Gilpin, R. (1975). US Power and the Multinational Corporation.Google Scholar
Gilpin, R. (1977). “Economic Interdependence and National Security in Historical Perspective.” In Klaus, K. and Trager, F.N., eds., Economic Issues and National Security, Kansas: Regents Press.Google Scholar
Gilpin, R. (1981). War and Change in World Politics, New York: CUP.Google Scholar
Heckscher, E. F. (1965). Mercantilism, 2nd edition, ed. E. F. Söderlund.Google Scholar
Hirschman, A. O. (1945). National Power and the Structure of Foreign Trade, Berkeley: Univesity of CP.Google Scholar
Katiforis, G. (2004). “Keynes as a Bourgeois Marxist.” In Arestis, Philip and Sawyer, Malcolm C., eds., The Rise of the Market: Critical Essays on the Political Economy of Neo-liberalism, 181–224. Northampton: Edward Elgar Publishing, Inc.Google Scholar
Keohane, R. (1980). “The Theory of Hegemonic Stability and Changes in International Economic Regimes, 1967–1977,” In Holsti, Ole R., Siverson, Randolph M., and George, Alexander L., eds., Change in the International System, Boulder: Westview.Google Scholar
Keohane, R. and Nye, J. S. (1977). Power and Interdependence: World Politics in Transition, Boston: Little Brown.Google Scholar
Keynes, J. M. (1919). The Economic Consequences of the Peace.Google Scholar
Keynes, J. M. (1931). Essays in Persuasion. London: Macmillian and Co. Limited.Google Scholar
Keynes, J. M. (1936). The General Theory of Employment, Interest and Money.Google Scholar
Kinder, H., and Hilgemann, W. (1964). The Anchor Atlas of World History, New York: Anchor.Google Scholar
Kindleberger, C. (1973). The World in Depression, 1929–1939, Berkeley: UCP.Google Scholar
Kindleberger, C. (1975). “The Rise of Free Trade in Western Europe, 1820–1875,” Journal of Economic History, XXXV, 20–55.Google Scholar
Krasner, S. D. (1976). “State Power and the Structure of International Trade,” World Politics 28 (April 1976).Google Scholar
Lake, D. (1983). “International Economic Structures and American Foreign Economic Policy, 1887–1934,” World Politics, 35: 517–543.CrossRefGoogle Scholar
Lawson, F. H. (1983). “Hegemony and the Structure of International Trade Reassessed: A View from Arabia,” International Organization, 37: 317–339.Google Scholar
Lemyre, L. and Smith, P.. (1985). “Intergroup Discrimination and Self-esteem in the Minimal Group Paradigm” Journal of Personality and Social Psychology, 49: 660–670.Google Scholar
MacDonagh, O. (1962). “The Anti-Imperialism of Free Trade,” Economic History Review, 2d series, 14 (August).Google Scholar
MacEwan, A. (1978). “The Development of the Crisis in the World Economy,” In Steinberg, B. et al., eds., US Capitalism in Crisis, New York.Google Scholar
Malmgren, H. (1970). “Coming Trade Wars? Neo-Mercantilism and Foreign Policy,” Foreign Policy, 1(1): 115–143.Google Scholar
Mantoux, E. (1946). The Carthaginian Peace: Or the Economic Consequences of Mr. Keynes, New York: Oxford University Press.Google Scholar
Mathew, W. M. (1968). “The Imperialism of Free Trade: Peru, 1820–70,” Economic History Review, 2d series, 21 (December).Google Scholar
Metzl, J. (2019). Dying of Whiteness: How the Politics of Racial Resentment is Killing America’s Heartland, Hachette.Google Scholar
Moore, R. J. (1964–5). “Imperialism and ‘Free Trade’ Policy in India, 1853–4,” Economic History Review, 2d series, 17(1): 135–145.Google Scholar
Oakes, P. J. and Turner, J. C.. (1989). “Social Categorisation and Intergroup behaviour,” European Journal of Social Psychology 10: 295–301.Google Scholar
Organsky, A. F. K. (1968). World Politics, New York: Knopf.Google Scholar
Platt, D. C. M. (1968). “The Imperialism of Free Trade: Some Reservations,” Economic History Review, 2d series, 21 (August).Google Scholar
Platt, D. C. M. (1973). “Further Objections to an ‘Imperialism of Free Trade,’ 1830–1860,” Economic History Review, 2d series, 26 (February).Google Scholar
Skidelsky, R. (1976). “Balance of Power or Hegemony” In Rowland, B. M. ed., The Interwar Monetary System, New York: New York University Press.Google Scholar
Skidelsky, R. (2003). John Maynard Keynes 1883–1946, Economist, Philosopher, Statesman, London: Macmillan.Google Scholar
Skidelsky, R. (2010). Keynes: The Return of the Master, PublicAffairs.Google Scholar
Smith, A. (1937). The Wealth of Nations, New York: Modern Press.Google Scholar
Tajfel, H. and Turner, J.. (1979). “An Integrative Theory of Inter-Group Conflict,” In Austin, W. G. and Worchel, S. eds., The Social Psychology of Intergroup Relations, Monterey.Google Scholar
Taussig, F. (1892). The Tariff History of the United States, New York: Capricorn Books, 1964 edition.Google Scholar
Temin, P. (1997). “Is it Kosher to Talk about Culture?” The Journal of Economic History, 57(2): 267–287.Google Scholar
Trachtenberg, M. (1979). “Reparations at the Paris Peace Conference,” The Journal of Modern History, 51: 24–55.CrossRefGoogle Scholar
Veblen, T. (1899). The Theory of the Leisure Class, New York: Macmillan.Google Scholar
Viner, J. (1930). “English Theories of Foregn Trade Before Adam Smith,” Journal of Political Economy, XXXVIII, 239–310 and 404–457.Google Scholar
Viner, J. (1955). Studies in the Theory of International Trade, London: Allen and Unwin.Google Scholar
Viotti, P. and Kauppi, M. (1987). International Relations Theory, New York: Macmillan.Google Scholar
Wallerstein, I. (1980). The Modern World System, vol.2: Mercantilism and the Consolidation of the European World Economy, 1670–1750, New York: Academic Press.Google Scholar
Weber, T. (2008). Our Friend “The Enemy”: Elite Education in Britain and Germany before World War I, Stanford: Stanford University Press.Google Scholar
Whitman, M. v. N. (1975). “Leadership without Hegemony,” Foreign Policy, 20: 138–160.Google Scholar
Wilson, C. (1949). “Treasure and Trade Balances: The Mercantilist Problem” Economic History Review, 2(2).Google Scholar

Save book to Kindle

To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×