Thomas Rowlandson and Augustus Pugin, The Great Hall, Bank of England, 1808. The Met, Open Access (CC0)
Palgrave Macmillan
The General Theory of Employment, Interest and Money
The book that invented macroeconomics.
$40.00
Available · worldwide delivery
- Author
- John Maynard Keynes
- Publisher
- Palgrave Macmillan
- Published
- January 2018
- Pages
- 0
- Format
- Paperback
- Size
- Standard
- Language
- English
The Library Essay
An Economy Can Settle Into Failure
The classical economics of Keynes's training held that markets, left alone, return to full employment, and the 1930s were a decade-long refutation visible from every window. The General Theory, published in 1936, supplied the explanation: total demand can fail, thrift can deepen a slump, and an economy can come to rest with millions idle, requiring the state to spend when private spending has stopped.
It is a difficult, brilliant, argumentative book, written by a Cambridge don who was also a speculator, a Treasury adviser and the century's most persuasive economic essayist. It founded macroeconomics as a subject, governed Western policy for a generation after the war, and returns to the centre of debate in every crisis, most recently whenever demand collapses and its remedies are reached for again.
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