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The General Theory of Employment, Interest…

The General Theory of Employment, Interest and Money (original 1936; edition 1960)

by John Maynard Keynes

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1,00138,543 (3.63)14
Title:The General Theory of Employment, Interest and Money
Authors:John Maynard Keynes
Info:Macmillan Press (1960), Paperback, 463 pages
Collections:Your library, Economics
Tags:interwar, macro, @office, _ebook, _book, from ebook@Adelaide

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The General Theory of Employment, Interest and Money by John Maynard Keynes (1936)

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    thcson: Froyen's textbook discusses classical macroeconomic models and the transition to keynesian theory in some detail. It's very helpful for understanding The General Theory of Employment, Interest and Money.

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Makes a good point, but any number of textbook chapters or published papers now make the same point much more clearly and concisely (in, like a paragraph to convey the basic idea, and a couple of pages to lay out a formal model). The basic point, as I see it, being: A capitalist economy can have multiple equilibria, including Pareto-rankable ones; nothing prevents us from going to a Pareto-suboptimal (which pretty much always means, low-output) equilibrium. For a paper which makes this point much more briefly, and in a much more soundly-argued way, see Diamond's "Aggregate Demand Management in Search Equilibrium," JPE 1982. ( )
2 vote Adaptive_Agent | May 26, 2008 |
A critically-important volume, to be sure, but difficult to read. ( )
  Jacob.Malcom | Dec 21, 2006 |
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Like many economic classics, the General Theory of Employment, Interest and Money, published in early 1936, is an ill-organized, repetitious, and quarrelsome book. Save for occasional bravura passages on Egyptian pyramids, medieval masses for the dead, and the behavior of stock market speculators, the graceful English stylist of the Economic Consequences of the Peace and the Essays in Biography is little in evidence.
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Amazon.com Product Description (ISBN 0156347113, Paperback)

Keynes profoundly influenced the New Deal and created the basis for classic economic theory. “I can think of no single book that has so changed the conception held by economists as to the working of the capitalist system” (Robert L. Heilbroner). Index.

(retrieved from Amazon Mon, 30 Sep 2013 13:33:53 -0400)

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This noted text on economic theory was first published in 1936 and is reprinted in this edition.

(summary from another edition)

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