General Theory Of Employment , Interest And Money

Front Cover
Atlantic Publishers & Dist, Jan 1, 2006 - 400 pages
20 Reviews
John Maynard Keynes Is The Great British Economist Of The Twentieth Century Whose Hugely Influential Work The General Theory Of Employment, Interest And Money Is Undoubtedly The Century S Most Important Book On Economics Strongly Influencing Economic Theory And Practice, Particularly With Regard To The Role Of Government In Stimulating And Regulating A Nation S Economic Life. Keynes S Work Has Undergone Significant Revaluation In Recent Years, And Keynesian Views Which Have Been Widely Defended For So Long Are Now Perceived As At Odds With Keynes S Own Thinking. Recent Scholarship And Research Has Demonstrated Considerable Rivalry And Controversy Concerning The Proper Interpretation Of Keynes S Works, Such That Recourse To The Original Text Is All The More Important. Although Considered By A Few Critics That The Sentence Structures Of The Book Are Quite Incomprehensible And Almost Unbearable To Read, The Book Is An Essential Reading For All Those Who Desire A Basic Education In Economics. The Key To Understanding Keynes Is The Notion That At Particular Times In The Business Cycle, An Economy Can Become Over-Productive (Or Under-Consumptive) And Thus, A Vicious Spiral Is Begun That Results In Massive Layoffs And Cuts In Production As Businesses Attempt To Equilibrate Aggregate Supply And Demand. Thus, Full Employment Is Only One Of Many Or Multiple Macro Equilibria. If An Economy Reaches An Underemployment Equilibrium, Something Is Necessary To Boost Or Stimulate Demand To Produce Full Employment. This Something Could Be Business Investment But Because Of The Logic And Individualist Nature Of Investment Decisions, It Is Unlikely To Rapidly Restore Full Employment. Keynes Logically Seizes Upon The Public Budget And Government Expenditures As The Quickest Way To Restore Full Employment. Borrowing The Money To Finance The Deficit From Private Households And Businesses Is A Quick, Direct Way To Restore Full Employment While At The Same Time, Redirecting Or Siphoning Off The Funds From The Private Sector Which Caused The Over-Production Is In The First Place. Keynes S Theory Is Unquestionably Significant In Understanding Of Modern Economics. Far From Being Destructive, It Alone Has Been Responsible For Nearly 60 Years Of Growth Without A Major Depression As We Experienced Worldwide In The 1930S.While The Present Book Is Indispensable For The Students, Researchers And Teachers Of Economics, It Is Highly Useful For The General Readers Keenly Interested In Understanding Nation S Economy.
  

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Review: The General Theory of Employment, Interest, and Money

User Review  - Cris - Goodreads

Just as warned. This book is the most jargon-laden, badly-outlined book of economics, I've ever read. (I've always agreed with the school of rhetoric which said: if you can't write about it,you are ... Read full review

Review: The General Theory of Employment, Interest, and Money

User Review  - Barbara D. - Goodreads

Excellent Read full review

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Selected pages

Contents

The General Theory
3
The Postulates of the Classical Economics
4
The Principle of Effective Demand
21
DEFINITIONS AND IDEAS
31
The Choice of Units
33
Expectation as Determining Output and Employment
41
The Definition of Income Saving and Investment
47
The Meaning of Saving and Investment Further Considered
68
The General Theory of the Rate of Interest
148
The Classical Theory of the Rate of Interest
157
The Psychological and Business Incentives to Liquidity
176
Sundry Observations on the Nature of Capital
190
The Essential Properties of Interest and Money
201
The General Theory of Employment Restated
221
MONEYWAGES AND PRICES
231
Changes in MoneyWages
233

THE PROPENSITY TO CONSUME
79
The Propensity to Consume I The Objective Factors
81
The Propensity to Consume II The Subjective Factors
97
The Marginal Propensity to Consume and the Multiplier
102
THE INDUCEMENT TO INVEST
119
The Marginal Efficiency of Capital
121
The State of Longterm Expectation
132
The Employment Function1
256
The Theory of Prices
267
SHORT NOTES SUGGESTED BY THE GENERAL THEORY
283
Notes on the Trade Cycle
285
Notes on Mercantilism the Usury Laws Stamped Money and Theories of UnderConsumption
303
Concluding Notes on the Social Philosophy towards which the General Theory might Lead
341
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