In 'The General Theory of Employment, Interest and Money,' John Maynard Keynes challenges the classical economics that dominated before the Great Depression. He introduces revolutionary ideas about how government intervention can stabilize economies and control unemployment. Through compelling arguments, he dissects the causes of economic fluctuations and proposes innovative solutions. Keynes's work not only reshapes the understanding of macroeconomics but also ignites debates that resonate even today. Are his insights the key to unlocking a prosperous economic future or just a theory lost in complexity?
By John Maynard Keynes
Published: NaN
""The difficulty lies not so much in developing new ideas as in escaping from old ones.""
This new edition of Keynes' classic text includes a foreword by Paul Krugman.
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“"The difficulty lies not so much in developing new ideas as in escaping from old ones."”
The General Theory of Employment, Interest and Money
By John Maynard Keynes
Discover a world of knowledge through our extensive collection of book summaries.
John Maynard Keynes (1883-1946) was a British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. He is best known for his influential work, 'The General Theory of Employment, Interest and Money' (1936), where he argued that total spending in an economy (aggregate demand) is the primary driving force of economic growth and employment. His theories, later termed Keynesian economics, advocated for increased government expenditures and lower taxes to stimulate demand and pull the global economy out of the Great Depression. Keynes' writing style is characterized by its clarity and emphasis on practical solutions to economic problems, making complex concepts accessible to a broader audience. His contributions have had a lasting impact on both economic theory and public policy.
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