The General Theory of Employment, Interest and Money [NOOK Book]

Overview

The General Theory of Employment, Interest and Money was written by the English economist John Maynard Keynes. The book, generally considered to be his magnum opus, is largely credited with creating the terminology and shape of modern macroeconomics. It sought to bring about a revolution, commonly referred to as the "Keynesian Revolution", in the way economists thought – especially in relation to the proposition that a market economy tends naturally to restore itself to full employment after temporary shocks. ...
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The General Theory of Employment, Interest and Money

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Overview

The General Theory of Employment, Interest and Money was written by the English economist John Maynard Keynes. The book, generally considered to be his magnum opus, is largely credited with creating the terminology and shape of modern macroeconomics. It sought to bring about a revolution, commonly referred to as the "Keynesian Revolution", in the way economists thought – especially in relation to the proposition that a market economy tends naturally to restore itself to full employment after temporary shocks. Regarded widely as the cornerstone of Keynesian thought, the book challenged the established classical economics and introduced important concepts such as the consumption function, the multiplier, the marginal efficiency of capital, the principle of effective demand and liquidity preference. The central argument of The General Theory is that the level of employment is determined, not by the price of labour as in neoclassical economics, but by the spending of money.
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Editorial Reviews

From the Publisher
'The General Theory is nothing less than an epic journey out of intellectual darkness. That, as much as its continuing relevance to economic policy, is what makes it a book for the ages. Read it, and marvel.' - From the introduction by Paul Krugman
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Product Details

  • ISBN-13: 9781300122487
  • Publisher: Lulu.com
  • Publication date: 1/12/2013
  • Sold by: LULU PRESS
  • Format: eBook
  • Sales rank: 336,979
  • File size: 503 KB

Meet the Author

JOHN MAYNARD KEYNES was a Fellow at King's College, Cambridge and one of the most influential figures in modern macroeconomics.

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Table of Contents

Ch. 1 The General Theory 3
Ch. 2 The Postulates of the Classical Economics 4
Ch. 3 The Principle of Effective Demand 23
Ch. 4 The Choice of Units 37
Ch. 5 Expectation as Determining Output and Employment 46
Ch. 6 The Definition of Income, Saving and Investment 52
App User Cost 66
Ch. 7 The Meaning of Saving and Investment, Further Considered 74
Ch. 8 The Propensity to Consume: I. The Objective Factors 89
Ch. 9 The Propensity to Consume: II. The Subjective Factors 107
Ch. 10 The Marginal Propensity to Consume and the Multiplier 113
Ch. 11 The Marginal Efficiency of Capital 135
Ch. 12 The State of Long-Term Expectation 147
Ch. 13 The General Theory of the Rate of Interest 165
Ch. 14 The Classical Theory of the Rate of Interest 175
App Rate of Interest in Marshall's Principles of Economics, Ricardo's Principles of Political Economy and elsewhere 186
Ch. 15 The Psychological and Business Incentives to Liquidity 194
Ch. 16 Sundry Observations on the Nature of Capital 210
Ch. 17 The Essential Properties of Interest and Money 222
Ch. 18 The General Theory of Employment Re-Stated 245
Ch. 19 Changes in Money-Wages 257
App Prof. Pigou's Theory of Uneployment 272
Ch. 20 The Employment Function 280
Ch. 21 The Theory of Prices 292
Ch. 22 Notes on the Trade Cycle 313
Ch. 23 Notes on Mercantilism, the Usury Laws, Stamped Money and Theories of Under-Consumption 333
Ch. 24 Concluding Notes on the Social Philosophy towards which the General Theory might lead 372
Index 385
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Customer Reviews

Average Rating 4
( 7 )
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Sort by: Showing all of 7 Customer Reviews
  • Anonymous

    Posted July 6, 2012

    Still worth reading

    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.

    1 out of 1 people found this review helpful.

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  • Posted October 30, 2014

    As seen in other comments, the book is complex and difficult to

    As seen in other comments, the book is complex and difficult to read. A good critical companion reading is "Time and Money: The Macroeconomics of Capital Structure" by Roger W. Garrison. Also, as a general criticism of NookStudy, this (and most books) purchased do not allow for copying or printing, which makes referencing much more difficult. Other readers, such as VitalSource, provide these functions.

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted March 5, 2012

    No text was provided for this review.

  • Anonymous

    Posted June 26, 2011

    No text was provided for this review.

  • Anonymous

    Posted April 22, 2012

    No text was provided for this review.

  • Anonymous

    Posted April 28, 2011

    No text was provided for this review.

  • Anonymous

    Posted January 21, 2013

    No text was provided for this review.

Sort by: Showing all of 7 Customer Reviews

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