Peace without Victory for the Allies, 1918-1932 - Hardcover

'Interwar Europe is one of the most fascinating periods to study economic history. I would recommend this book to anyone who is interested in the German war reparation issue.' Charles Kindleberger, Emeritus Professor of Economic History, M.I.T. 'Moore's very interesting and controversial book examines Germany's relations with Britain, France, and the US from Versailles to Hitler...provocative and tantalizing arguments from an obviously revisionist historian.' Choice

This study shows how the untidy end of World War I encouraged Germany to try to turn defeat into victory. The author argues that Germany gained an economic advantage from its Great Inflation. After allied controls for securing German reparations were removed in 1929, concern that Germany would not pay precipitated the famous American stock market crash. The author argues that right wing elements in Germany planned the cancellation of Germany to a dictatorship through the use of economic manipulation. As Germany was a powerful nation this manipulation caused a major depression in Europe and America in the 1930s.