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9 Libertarian Papers 1 (2017)

handle is hein.journals/libpa9 and id is 1 raw text is: LIBERTARIAN PAPERS KEYNES AND THE FIRST WORLD WAR EDWARD W. FULLER AND ROBERT C. WHITTEN* War has been the only means of really improving employment that is respectable. -John Maynard Keynes, Keynes's Lectures Peace and not war is the father of all things... Peace builds, war destroys. -Ludwig von Mises, Sodaksm 1. Introduction IN JANUARY 1919, after the unprecedented bloodshed of the First World War had finally ceased, leaders of the allied governments congregated at the Paris Peace Conference to restore world peace. The dwindling ranks of classical liberals warned the allied governments that a just and durable peace must be based on the free market economy and genuine national self- determination. The allies embraced the rhetoric of classical liberalism, but they ignored the substance. The allied governments used the peace treaties to permanently enshrine British and French imperial war gains. They created new nation-states by government coercion, and established the League of Nations to enforce the new status quo under the guise of collective security. *Edward W. Fuller, MBA, is a graduate of the Leavey School of Business at Santa Clara University. Robert C. Whitten, PhD, is a retired research scientist for NASA and the SETI Institute. CITATION INFORMATION FOR THIS ARTICLE: Edward W. Fuller and Robert C. Whitten. 2017. Keynes and the First World War. Libertanan Papers. 9 (1): 1-37. ONLINE AT: libertarianpapers.org. THIS ARTICLE IS subject to a Creative Commons Attribution 3.0 License (creativecommons.org/licenses). 1 VOL. 9, No. 1 (2017)