Book Review: America and the Balance Sheet of Europe

Abstract

This book should be read by every person interested in international relations and public affairs. It presents a dispassionate and analytical diagnosis of the existing economic position in the world, essays a conclusion of the probable economic and political consequences if the position is not soon radically altered, and suggests the necessary remedies that must be adopted. In a sense it is a work supplementary to Keynes' Econonic Consequences of the Peace, with the advantage of three years' tangible experience of those economic effects which Keynes predicted. The argument of the book constitutes an interpretation, in terms comprehensible by the layman, of the figures presented by a study of the current balance sheet of Europe. The book has a purely educational purpose and is so constructed that the reader is permitted, after a study of the facts in Parts I and II, to draw his own inevitable conclusions. In the last chapters, the authors venture to suggest a way out of the dilemma into which Europe and the world at large has been driven.