In 1919, the renowned British economist John Maynard Keynes wrote The Economic Consequences of the Peace, a book that would prove controversial indeed. In it, he warned that the draconian terms imposed on defeated Germany after what was then known as the Great War — which we now call World War I — would have ruinous consequences not just for that country but all of Europe. Today, I’ve adapted his title to explore the economic consequences of the (less than great) war now underway — the one in Ukraine, of course — not just for those directly involved but for the rest of the world.
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