Abstract: Étienne Mantoux's book (1946) is a severe criticism of Keynes' 1919 work which aimed to denounce the terms of the Treaty of Versailles. The outbreak of the Second World War appears to him as a consequence of the harmful influence of Keynesian ideas. His criticism is carried by an adherence to a Hayekian vision of an economic-political ideal in which States would have no possibility of monetary creation but would have the task of imposing on individuals submission to the order of the market.