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Rare and modern books

John Maynard Keynes

The General Theory of Employment, Interest and Money [Hardcover]

Kalpaz Publications, 2017

52.80 €

Gyan Books Pvt Ltd

(Delhi, India)

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Details

Year of publication
2017
ISBN
9789351285250
Author
John Maynard Keynes
Pages
417
Publishers
Kalpaz Publications
Keyword
Business & Money, Personal Finance, Budgeting & Money Management
Languages
English
Binding
Hardcover
Print on demand
Yes

Description

ABOUT THE BOOK: The author spearheaded a revolution in economic thinking, challenging the ideas of neoclassical economics that held that free markets would in the short to medium term, automatically provide full employment, as long as workers were flexible in their wage demands. He instead argued that aggregate demand determined the overall level of economic activity and that inadequate aggregate demand could lead to prolonged periods of high unemployment. Thus, full employment is only one of many or multiple macro equilibria. If an economy reaches an under employment 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 decision, it is unlikely to rapidly restore full employment
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