1. Militarism is most to blame for World War I. Empires were shrinking at a rapid rate and the fact that some nations were still colonizing others was a major source of conflict. That's not to mention that if these nations wanted to pay fair wages, they would first have to give up their empires and remove their troops.
2. Peace negotiations following WWI did not connect to WWII. The Treaty of Versailles treated all of the nations of WWI fairly, giving special treatment to Germany, to make sure they would not feel motivated to start another war. The Treaty did a good job to prevent any forms of Totalitarianism after the war. The signers of the treaty expected the Great Depression and made sure to start inflating prices immediately to try to curb extensive deflation later.