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

Published online by Cambridge University Press:  14 December 2023

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
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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.

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Publisher: Cambridge University Press
Print publication year: 2024

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