The General Theory Of Employment Interest And Money (1936)

The General Theory of Employment, Interest and Money is a seminal work by the British economist John Maynard Keynes, first published in 1936. The book is considered one of the most influential economic texts of the 20th century, and it revolutionized the way economists think about macroeconomics and the role of government in managing the economy.In the book, Keynes argues that traditional economic theory, which emphasizes the role of free markets in allocating resources and promoting growth, is inadequate for understanding the dynamics of modern capitalist economies. He argues that economic activity is driven not by the pursuit of individual self-interest, but by the aggregate demand for goods and services in the economy.Keynes also argues that government intervention is necessary to stabilize the economy and prevent recessions and depressions. He suggests that governments should use fiscal policy, such as deficit spending and tax cuts, to stimulate demand during times of economic downturns.The book is divided into seven chapters, with each chapter building on the previous one to present a comprehensive theory of macroeconomics. The first chapter introduces the concept of aggregate demand and argues that it is the key driver of economic activity. The subsequent chapters explore the role of money and interest rates in the economy, the relationship between saving and investment, and the importance of expectations and uncertainty in economic decision-making.Overall, The General Theory of Employment, Interest and Money is a groundbreaking work that challenged traditional economic thinking and laid the foundation for modern macroeconomic theory. Its ideas continue to influence economic policy and debate to this day.This scarce antiquarian book is a facsimile reprint of the old original and may contain some imperfections such as library marks and notations. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions, that are true to their original work.