KEYNES, John Maynard.

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A Revision of the Treaty. First edition, first impression, of Keynes's second, highly controversial work on German reparations and the debt-riddled economy of post-First World War Europe. The Revision is a supplement and sequel to Keynes's highly popular 1919 work The Economic Consequences of the Peace. In Revision, Keynes develops his argument that the reparations demanded by the Treaty of Versailles were a threat to European peace and prosperity, and should consequently be reduced. "The violence of the controversy aroused by these two books [Economic Consequences and Revision of the Treaty] is now difficult to appreciate. Even while they were being written many of his prophecies came true and, in the light of the subsequent history, the foresight of his conclusions would be uncanny did they not proceed so inevitably from his premises" (PMM). Keynes's arguments as to the fundamental injustice of the Treaty remain widely shared to this day.

• Printing: first

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