The General Theory Of Employment, Interest And Money

by John Maynard Keynes

Overview

The General Theory of Employment, Interest and Money is a book by English economist John Maynard Keynes and is generally considered to be Keynes' magnum opus, and is largely credited with creating the terminology and shape of modern macroeconomics. The General Theory of Employment, Interest and Money had equally powerful consequences in economic policy, being interpreted as providing theoretical support for government spending in general, and for budgetary deficits, monetary intervention and counter-cyclical policies in particular. It is pervaded with an air of mistrust for the rationality of free-market decision making. Keynes denied that an economy would automatically adapt to provide full employment even in equilibrium, and believed that the volatile and ungovernable psychology of markets would lead to periodic booms and crises. The General Theory is a sustained attack on the classical economics orthodoxy of its time. It introduced the concepts of the consumption function, the principle of effective demand and liquidity preference, and gave new prominence to the multiplier and the marginal efficiency of capital.

Product Details

ISBN-13:	9789394924222
Publisher:	Sanage Publishing House
Publication date:	07/19/2022
Pages:	380
Sales rank:	824,258
Product dimensions:	5.50(w) x 8.50(h) x 0.85(d)

About the Author

John Maynard Keynes was a British economist and professor at Cambridge. He was a prolific author and lecturer and advised many governments and policy makers on economic policy. He was named by Time magazine as one of the 100 most influential people of the 20th century.

Table of Contents

Introduction to the 2006 Edition--Paul Krugman * BOOK 1: INTRODUCTION * The General Theory * The Postulates of the Classical Economics * The Principle of Effective Demand * BOOK 2: DEFINITIONS AND IDEAS * The Choice of Units * Expectation as Determining Output and Employment * The Definition of Income, Saving and Investment * The Meaning of Saving and Investment Further Considered * BOOK 3: THE PROPENSITY TO CONSUME * The Propensity to Consume: I. The Objective Factors * The Propensity to Consume: II. The Subjective Factors * The Marginal Propensity to Consume and the Multiplier * BOOK 4: THE INDUCEMENT TO INVEST * The Marginal Efficiency of Capital * The State of Long-term Expectation * The General Theory of the Rate of Interest * The Classical Theory of the Rate of Interest * The Psychological and Business Incentives to Liquidity * Sundry Observations on the Nature of Capital * The Essential Properties of Interest and Money * The General Theory of Employment Re-stated * BOOK 5: MONEY-WAGES AND PRICES * Changes in Money-Wages * The Employment Function * The Theory of Prices * BOOK 6: SHORT NOTES SUGGESTED BY THE GENERAL THEORY * Notes on the Trade Cycle * Notes on Mercantilism, The Usury Laws, Stamped Money and Theories of Under-consumption * Concluding Notes on the Social Philosophy towards which the General Theory Might Lead

Introduction to the 2006 Edition--Paul Krugman * BOOK 1: INTRODUCTION * The General Theory * The Postulates of the Classical Economics * The Principle of Effective Demand * BOOK 2: DEFINITIONS AND IDEAS * The Choice of Units * Expectation as Determining Output and Employment * The Definition of Income, Savingand Investment * The Meaning of Saving and Investment Further Considered * BOOK 3: THE PROPENSITY TO CONSUME * The Propensity to Consume: I. The Objective Factors * The Propensity to Consume: II. The Subjective Factors * The Marginal Propensity to Consume and the Multiplier * BOOK 4: THE INDUCEMENT TO INVEST * The Marginal Efficiency of Capital * The State of Long-term Expectation * The General Theory of the Rate of Interest * The Classical Theory of the Rate of Interest * The Psychological and Business Incentives to Liquidity * Sundry Observations on the Nature of Capital * The Essential Properties of Interest and Money * The General Theory of Employment Re-stated * BOOK 5: MONEY-WAGES AND PRICES * Changes in Money-Wages * The Employment Function * The Theory of Prices * BOOK 6: SHORT NOTES SUGGESTED BY THE GENERAL THEORY * Notes on the Trade Cycle * Notes on Mercantilism, The Usury Laws, Stamped Money and Theories of Under-consumption * Concluding Notes on the Social Philosophy towards which the General Theory Might Lead