KEYNES S THE GENERAL THEORY OF EMPLOYMENT INTEREST AND MONEY

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General Theory Of Employment Interest And Money

Author : John Maynard Keynes
ISBN : 8126905913
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John Maynard Keynes Is The Great British Economist Of The Twentieth Century Whose Hugely Influential Work The General Theory Of Employment, Interest And Money Is Undoubtedly The Century S Most Important Book On Economics Strongly Influencing Economic Theory And Practice, Particularly With Regard To The Role Of Government In Stimulating And Regulating A Nation S Economic Life. Keynes S Work Has Undergone Significant Revaluation In Recent Years, And Keynesian Views Which Have Been Widely Defended For So Long Are Now Perceived As At Odds With Keynes S Own Thinking. Recent Scholarship And Research Has Demonstrated Considerable Rivalry And Controversy Concerning The Proper Interpretation Of Keynes S Works, Such That Recourse To The Original Text Is All The More Important. Although Considered By A Few Critics That The Sentence Structures Of The Book Are Quite Incomprehensible And Almost Unbearable To Read, The Book Is An Essential Reading For All Those Who Desire A Basic Education In Economics. The Key To Understanding Keynes Is The Notion That At Particular Times In The Business Cycle, An Economy Can Become Over-Productive (Or Under-Consumptive) And Thus, A Vicious Spiral Is Begun That Results In Massive Layoffs And Cuts In Production As Businesses Attempt To Equilibrate Aggregate Supply And Demand. Thus, Full Employment Is Only One Of Many Or Multiple Macro Equilibria. If An Economy Reaches An Underemployment Equilibrium, Something Is Necessary To Boost Or Stimulate Demand To Produce Full Employment. This Something Could Be Business Investment But Because Of The Logic And Individualist Nature Of Investment Decisions, It Is Unlikely To Rapidly Restore Full Employment. Keynes Logically Seizes Upon The Public Budget And Government Expenditures As The Quickest Way To Restore Full Employment. Borrowing The Money To Finance The Deficit From Private Households And Businesses Is A Quick, Direct Way To Restore Full Employment While At The Same Time, Redirecting Or Siphoning Off The Funds From The Private Sector Which Caused The Over-Production Is In The First Place. Keynes S Theory Is Unquestionably Significant In Understanding Of Modern Economics. Far From Being Destructive, It Alone Has Been Responsible For Nearly 60 Years Of Growth Without A Major Depression As We Experienced Worldwide In The 1930S.While The Present Book Is Indispensable For The Students, Researchers And Teachers Of Economics, It Is Highly Useful For The General Readers Keenly Interested In Understanding Nation S Economy.
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The General Theory Of Employment Interest And Money

Author : John Maynard Keynes
ISBN : 1840227478
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File Size : 29.30 MB
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John Maynard Keynes is perhaps the foremost economic thinker of the 20th century. He ranks with Adam Smith and Karl Marx; and his impact on how economics was practiced, from the Great Depression to the 1970s, was unmatched.
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Biography Of An Idea

Author : David Felix
ISBN : 1412815134
Genre : Economic history
File Size : 80.99 MB
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The culmination of John Maynard Keynes's thought and lifework was The General Theory of Employment, Interest and Money. Here, placing it in the context of his era, David Felix examines the evolution of Keynes's theorizing. He boldly claims that The General Theory lacks logical and factual support as pure theory, but is an achievement of great statesmanship in political economy. Felix argues that Keynes's ideas have misled successive generations of students and practitioners. He suggests that a more discriminating view of his thought can reconcile Keynesian views with neoclassical theory and replace the false synthesis that dominates contemporary text-books with a truer one. Biography of an Idea devotes four chapters to an analysis of The General Theory and an examination of the economic logic of Keynes. The author disentangles the work's fundamentally simple theses from its difficult technical pre-sentation. He shows how Keynes shaped his economic model as he did as an effort to win public support for sensible policies that clashed with generally accepted beliefs of the time. Biography of an Idea is bound to be controversial due to the many cohorts of economists who have been trained in macroeconomics according to Keynes. It will be of interest and ac-cessible to intellectually curious laymen and students, and important to economists, historians, and political scientists.
Category: Economic history

Keynes

Author : Roger Backhouse
ISBN : 1855066106
Genre : Biography & Autobiography
File Size : 36.11 MB
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'Roger Backhouse is to be congratulated for bringing together this collection of reviews of Keynes's General Theory, the most influential book in economics published this century. This collection shows how individuals from a wide variety of backgrounds, not just economists, tried to make sense of the book and its policy implications. It is an important addition to any library collection.' - D. E. Moggridge, author of Maynard Keynes: An Economist's Biography Keynes's General Theory of Employment, Interest and Money (published February 1936) is probably the most influential and controversial economics book of the twentieth century. In it, Keynes claimed to have undermined the foundations of orthodox economics and to have developed a radically new way of thinking about unemployment. Some (often young) economists took up Keynesan ideas with missionary zeal, whilst others (often older) were very hostile. There was also intense controversy over what Keynes was actually saying. This volume brings together 40 of the reviews published before the end of 1936, showing how a wide range of economists and political and literary figures responded to the book. It shows the variety and intensity of the reactions evoked by Keynes. Because they are all very early reviews, they ante-date the articles (notably by J. R. Hicks) that appeared early in 1937 and which provided the framework (the so-called IS-LM model) through which economists have come to interpret Keynes's ideas. We have, therefore, perspectives on Keynesian economics that are untainted by the work of subsequent interpreters. --40 early reviews of Keynes's General Theory of Employment, Interest and Money, published in newspapers, professional and academic journals, during 1936 --includes materials from inaccessible newspapers and journals --features a readable, non-technical introduction
Category: Biography & Autobiography

The General Theory Of Employment Interest And Money Illustrated

Author : John Maynard Keynes
ISBN : 1521046816
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The General Theory of Employment, Interest and Money was written by the English economist John Maynard Keynes. The book, generally considered to be his magnum opus, is largely credited with creating the terminology and shape of modern macroeconomics. Published in February 1936, it sought to bring about a revolution, commonly referred to as the "Keynesian Revolution", in the way economists thought - especially in relation to the proposition that a market economy tends naturally to restore itself to full employment after temporary shocks. Regarded widely as the cornerstone of Keynesian thought, the book challenged the established classical economics and introduced important concepts such as the consumption function, the multiplier, the marginal efficiency of capital, the principle of effective demand and liquidity preference. The central argument of The General Theory is that the level of employment is determined, not by the price of labour as in neoclassical economics, but by the spending of money (aggregate demand). Keynes argues that it is wrong to assume that competitive markets will in the long run deliver full employment or that full employment is the natural, self-righting, equilibrium state of a monetary economy. On the contrary, under-employment and under-investment are likely to be the natural state unless active measures are taken. One implication of The General Theory is that an absence of competition is not the main issue regarding unemployment, and that even reducing wages or benefits have no major effect.
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John Maynard Keynes The General Theory Of Employment Interest And Money Centaur Classics

Author : John Maynard Keynes
ISBN : 9788892534377
Genre : Business & Economics
File Size : 80.66 MB
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Distinguished British economist John Maynard Keynes (1883-1946) set off a series of movements that drastically altered the ways in which economists view the world. In his most important work, “The General Theory of Employment, Interest, and Money” (1936), Keynes critiqued the laissez-faire policies of his day, particularly the proposition that a normally functioning market economy would bring full employment. Keynes's forward-looking work transformed economics from merely a descriptive and analytic discipline into one that is policy oriented. For Keynes, enlightened government intervention in a nation's economic life was essential to curbing what he saw as the inherent inequalities and instabilities of unregulated capitalism.
Category: Business & Economics

Book Review The General Theory Of Employment Interest And Money By John M Keynes

Author : 50MINUTES.COM,
ISBN : 9782808006330
Genre : Business & Economics
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It can be hard for busy professionals to find the time to read the latest books. Stay up to date in a fraction of the time with this concise guide. The General Theory of Employment, Interest and Money by John Maynard Keynes was first published in 1936, and had a lasting impact on both economic theory and state economic policies. Keynes’s primary aim was to challenge certain aspects of classical economics which were accepted as fact at the time, namely Say’s law, which states that supply will create its own demand, and the assumption that free markets automatically tend towards full employment. Keynes introduced several revolutionary concepts in this book, including effective demand, the propensity to consume, the investment multiplier and the liquidity-preference, to support his arguments in favour of greater state interventionism as a response to financial crises. This book review and analysis is perfect for: • Anyone interested in the history of economic theory, particularly macroeconomics • Anyone who wants to understand the aims of state intervention in the financial market • Students of, or anyone interested in, modern politics and economics About 50MINUTES.COM| BOOK REVIEW The Book Review series from the 50Minutes collection is aimed at anyone who is looking to learn from experts in their field without spending hours reading endless pages of information. Our reviews present a concise summary of the main points of each book, as well as providing context, different perspectives and concrete examples to illustrate the key concepts.
Category: Business & Economics

Keynes S The General Theory Of Employment Interest And Money

Author : Fred R. Glahe
ISBN : UOM:39015028451865
Genre : Business & Economics
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John Maynard Keynes is the foremost economist of the twentieth century, and his General Theory of Employment, Interest, and Money is unquestionably the century's most important economics book. Keynes's work has undergone significant reevaluation in recent years, and "Keynesian" views which have been so widely defended for so long are now perceived as at odds with Keynes's own thinking. Recent scholarship and research has demonstrated considerable rivalry and controversy concerning the proper interpretation of Keynes's works, such that recourse to the original text is all the more important. In this book, Fred R. Glahe brings to this pivotal work the techniques of textual criticism developed in disciplines such as literature and theology. This concordance will provide an invaluable reference tool for scholars in search of Keynes, aiding them to recover his key terms in their original context. It will list alphabetically all of the key words used in The General Theory, the number of times each appears, and the page and paragraph number of each citation.
Category: Business & Economics

The General Theory Of Employment Interest And Money

Author : John Keynes
ISBN : 1720490538
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The hereditary English economist John Maynard Keynes is considered to be one of the founders of the macroeconomics as an individual science. His famous scientific work The General Theory of Employment, Interest and Money markedly affected the development of the science of economics and economic policy. Keynes established the main system and terminology of the modern economics, such as "the consumption function", "the principle of effective demand and liquidity preference" and other concepts.
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