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War and Peace in Keynes' Thought


  • Pittaluga, Giovanni Battista

    (Department of Political Science, University of Genoa, Italy)


Despite an extensive literature devoted to Keynes’s thought, there are still few analyzes of his thinking on international relations. Keynes traced the causes of wars above all to economic factors, first of all to the impoverishment of populations. A stable peace could only be established by removing the causes of this impoverishment. Hence his profound criticisms of the Treaty of Versailles, because it imposed unsustainable reparations on Germany; hence the main motivations of the Keynes Plan on the new international monetary order to be established after WWII which, while favoring the development of international trade, would have allowed individual countries to pursue economic policies aimed at maintaining full employment. Guerra e pace nel pensiero di Keynes Nonostante l’ampia letteratura dedicata al pensiero di Keynes, sono tuttora poche le analisi del suo pensiero sulle relazioni internazionali. Keynes riconduceva le cause delle guerre soprattutto a fattori economici, in primis all’impoverimento delle popolazioni. Una pace stabile poteva instaurarsi solo rimuovendo le cause di tale impoverimento. Di qui le sue profonde critiche al Trattato di Versailles, perché imponeva alla Germania riparazioni insostenibili; di qui le motivazioni principali del Piano Keynes sul nuovo ordine monetario internazionale da instaurare dopo la WWII che, pur favorendo uno sviluppo del commercio internazionale, avrebbe consentito ai singoli paesi di perseguire politiche economiche volte a conservare la piena occupazione.

Suggested Citation

  • Pittaluga, Giovanni Battista, 2022. "War and Peace in Keynes' Thought," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 75(4), pages 577-600.
  • Handle: RePEc:ris:ecoint:0934

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    References listed on IDEAS

    1. Keynes,John Maynard, 2012. "The Collected Writings of John Maynard Keynes," Cambridge Books, Cambridge University Press, number 9781107658066 edited by Johnson,Elizabeth & Moggridge,Donald, November.
    2. Anna Carabelli & Mario Cedrini, 2010. "Keynes and the Complexity of International Economic Relations in the Aftermath of World War I," Journal of Economic Issues, Taylor & Francis Journals, vol. 44(4), pages 1009-1028.
    3. Ruggie, John Gerard, 1982. "International regimes, transactions, and change: embedded liberalism in the postwar economic order," International Organization, Cambridge University Press, vol. 36(2), pages 379-415, April.
    4. Giovanni Battista Pittaluga & Elena Seghezza, 2021. "Building Trust in the International Monetary System," Frontiers in Economic History, Springer, number 978-3-030-78491-1, December.
    5. Mr. James M. Boughton, 2002. "Why White, Not Keynes? Inventing the Post-War International Monetary System," IMF Working Papers 2002/052, International Monetary Fund.
    6. Joshi, Prathibha & Beck, Kris, 2021. "Economic Growth and the Rise of Democracy: A Granger Causality Analysis," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 74(4), pages 389-414.
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    Cited by:

    1. Seghezza, Elena, 2022. "The Cagan's Model, its Developments, and the Patinkin Effect," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 75(4), pages 601-622.

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    More about this item


    John Maynard Keynes; International Relations; War; Peace;
    All these keywords.

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • F02 - International Economics - - General - - - International Economic Order and Integration


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