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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 ...
The Economics of John Maynard Keynes: The Theory of Monetary Economy is a non-fiction work by Dudley Dillard which seeks to make The General Theory of Employment, Interest and Money by John Maynard Keynes understandable to both the economist and to the non-economist. It was first published in 1948.
Download as PDF; Printable version; In other projects ... The General Theory of Employment, Interest and Money; H. ... Keynes's theory of wages and prices; Keynesian ...
According to Keynes it is the principle of effective demand that determines the level of output and employment in a country. In chapter 3 of John Maynard Keynes's book The General Theory of Employment, Interest and Money , he defines the concept of effective demand as the point of intersection of these two aggregate functions—at this point of ...
Keynes's magnum opus, The General Theory of Employment, Interest and Money was published in 1936. [10] It was researched and indexed by one of Keynes's favourite students, and later economist, David Bensusan-Butt. [50] The work served as a theoretical justification for the interventionist policies Keynes favoured for tackling a recession.
Kahn was also one of Keynes' closest collaborators on the creation of Keynes' General Theory of Employment, Interest and Money. [ 7 ] Kahn was made a Commander of the Order of the British Empire (CBE) in 1946 [ 8 ] and became a Fellow of the British Academy in 1960, and was created a life peer with the title Baron Kahn , of Hampstead in the ...
In Keynes's Treatise, he explained how recessions could happen, but not long-term depressions. He was able to address this further in The General Theory of Employment, Interest and Money. In his General Theory, Keynes argued against the seesaw theory and said that the economy was more like an elevator that can stop at any level.
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.