The General Theory of Employment Interest and Money (1936)

The General Theory of Employment, Interest and Money is a seminal work of economic theory written by John Maynard Keynes and published in 1936. This book is widely regarded as one of the most influential economic treatises of the 20th century and is credited with revolutionizing the way economists think about macroeconomics. In this book, Keynes argues that the traditional classical economic theory, which emphasizes the role of market forces in determining economic outcomes, is inadequate for understanding the dynamics of modern capitalist economies. He proposes a new theory that emphasizes the importance of aggregate demand in determining levels of employment and output in the economy. Keynes argues that in times of economic downturn, when there is insufficient demand for goods and services, the government must intervene to stimulate demand and create jobs. He also proposes that the central bank should use monetary policy to manage interest rates and stabilize the economy. The General Theory of Employment, Interest and Money is a highly technical work that is often difficult to read, but it remains a cornerstone of modern economic theory. It has influenced generations of economists and policymakers, and its ideas continue to be debated and refined 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.