Search results
Results from the WOW.Com Content Network
The General Theory of Employment, Interest and Money is a book by English economist John Maynard Keynes published in February 1936. It caused a profound shift in economic thought, [1] giving macroeconomics a central place in economic theory and contributing much of its terminology [2] – the "Keynesian Revolution". It had equally powerful ...
Keynesian economics developed during and after the Great Depression from the ideas presented by Keynes in his 1936 book, The General Theory of Employment, Interest and Money. [5] Keynes' approach was a stark contrast to the aggregate supply -focused classical economics that preceded his book.
Instead, he believes that economic events emerge when there are discrepancies between savings and investments. According to Keynes, a true measure of a nation's prosperity is not anything of physical value such as gold or silver, but by national income. To him, the most important characteristic of national income is consumption. [4]
Keynesian economics were officially discarded by the British Government in 1979, but forces had begun to gather against Keynes's ideas over 30 years earlier. Friedrich Hayek had formed the Mont Pelerin Society in 1947, with the explicit intention of nurturing intellectual currents to one day displace Keynesianism and other similar influences.
Originally published in October 1948, Dillard's book received nine additional prints with the final 10th edition being printed in September 1961. All editions were facilitated by Prentice-Hall Inc. In the preface, Dillard asserts that the book will cover the "economics of Keynes rather than Keynesian economics (Dillard, vii)."
The Economist as Saviour, 1920-37 (1992) covers Keynes's contributions to economics, his involvement in international affairs, and his rise to a prominent economist. Vol. 3 Fighting for Britain, 1937-1946 (2000) is about Keynes's role in World War II and his efforts in shaping the post-war international economic order, particularly through the ...
Books, articles and, in general, written works on Economics subjects, mainly based on or arguing for economic theories posited by John Maynard Keynes. Subcategories This category has only the following subcategory.
Axel Leijonhufvud published a highly influential book in 1968 – 'Keynesian economics and the economics of Keynes' – criticising the direction Keynesian economics had taken under the influence of the IS-LM model. He argued that: