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The World Economy a Century after Versailles and Genoa

Author

Listed:
  • Lorenzo Esposito

    (Bank of Italy, Milan Branch and Department of Economic Policy, Università Cattolica del Sacro Cuore, Milan)

  • Giuseppe Mastromatteo

    (Department of Economic Policy, Università Cattolica del Sacro Cuore, Milan)

Abstract

A century after the Genoa Conference and 110 years after the outbreak of World War I, Europe has been shaken once again by the roar of cannons. The effects of the pandemic, of the war and of economic sanctions on Russia are accelerating a profound reorganization of world trade and the world economy, with the rise of two political-economic blocs around which production processes and trade flows will be reshaped. Although it seems premature with the horrors of a war still raging, it is useful to discuss the interwar situation as a lesson for today. We concentrate on Keynes’ approach during those years and the differences with mainstream analysis, focusing on two key issues: the gold standard and world trade, with the ensuing debate on economic self-sufficiency, to show how his way of analysing these issues can be useful for today’s situation.

Suggested Citation

  • Lorenzo Esposito & Giuseppe Mastromatteo, 2024. "The World Economy a Century after Versailles and Genoa," Rivista Internazionale di Scienze Sociali, Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore, vol. 132(4), pages 429-452.
    • Handle: RePEc:vep:journl:y:2024:v:132:i:4:p:429-452
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    More about this item

    Keywords

    Keynes; Genoa conference; Globalization; cold war;
    All these keywords.

    JEL classification:

    • B26 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Financial Economics
    • B27 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - International Trade and Finance
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
    • N44 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: 1913-

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