The term “revisionism” came into use after World War I, when historians like Harry Elmer Barnes, Sidney Bradshaw Fay, and Charles Austin Beard challenged Article 231 of the Treaty of Versailles, which assigned exclusive guilt to Germany and its Kaiser for the outbreak of the world war, with all its appalling destruction and massacres. It was on the basis of that clause that the Treaty imposed on Germany a Carthaginian peace, memorably condemned by J.M. Keynes in The Economic Consequences of the Peace.

Former President and current Republican Presidential Nominee Donald Trump recently renewed his criticisms of the Federal Reserve.