I went on last time about Keynes's Economic Consequences of the Peace at such length that it may have felt exhausting; but there is still one further key sense in which the book resonates with our time that I was not able to explore then in much depth: namely, the way in which the Allies' treatment of their defeated adversary resembled a recent particularly disgraceful episode in the annals of U.S. military history. (More on that shortly.)
Keynes's chief purpose in the book, let us recall, was to decry the Treaty of Versailles, which he saw as a dishonorable and ultimately self-destructive effort to take advantage of a defeated foe. The ruinous settlement that the treaty imposed, Keynes argued, was really a sort of "Carthaginian peace," meaning that it was peace attained through the cruel and utterly gratuitous extirpation of the already defeated and prostrate enemy.