Anonymous
Posted Tue Aug 09 00:00:00 EDT 2005
After decades of primacy Keynesian theories are currently out of vogue with those who make policy. In their stead stand an increasingly dogmatic hybrid of Ayn Rand and Friedrich A. Von Hayek. When the inevitable excess of the acolytes of the rabid right have caused enough damage there will be a moment of Keynesian appreciation. One should read the works before the time comes to lionize them.
2 out of 4 people found this review helpful.
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Posted Fri Jul 06 00:00:00 EDT 2012
Big and complex and difficult to read, but then again you probably know that before going into this technical guide to crises written by a hoity-toity perfesser from 1930's England.
Not much to add that people don't already know about this book, but I do love a few of the "Governments would never be so dumb as to do this..." parts, usually referring to something done in response to the current global melt-down. (For example, internal devaluation.)
Keynes: Making it clear that the world is being run by its worst people since 1936.
B_E_R_L_I_N
Posted Mon Jan 26 00:00:00 EST 2009
It's amazing that several issues of the General Theory are today simply ignored. Let's deal with two problems.<BR/><BR/>In the first tier Keynes is wondering about this analytical confusion between "marginal productivity" and "marginal efficiency". The last one is only comprehensible by the category of value. As far as the (neo)classical theory is concerned there is no solution for this request.<BR/><BR/>Secondly, Keynes notes the vaguely defined category of interest, which is used by the (neo)classical theory. But this vaguely defined category plays not only today a decisive role within the analytical and practical challenges we are faced with.<BR/><BR/>Of course, Keynes was mainly interested in a reasonable solution of the problem of economic crisis and how to fight it, but nevertheless he pointed out some very important analytical issues, which seemed to be forgotten over the time.<BR/><BR/>Today, facing the globalized economic crisis, it is a good point to take care of the above mentioned issues.
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Meet the Author
John Maynard Keynes (1883-1946) was an economist, mathematician, civil servant, educator, journalist, and a world-renowned author. His two great works, A Treatise on Money and The General Theory of Unemployment, Interest, and Money, revolutionized the study and practice of economics and changed monetary policy after World War II.
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