Classical economics suggests that market economies are self-correcting in times of recession or depression, and tend toward full employment and output. But English economist John Maynard Keynes disagrees. In his ground-breaking 1936 study The General Theory, Keynes argues that traditional economics has misunderstood the causes of unemployment.
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<p><em>The General Theory of Employment, Interest and Money</em><span> is Keynes'' masterpiece published right after the Great Depression. It sought to bring about a revolution, commonly referred to as the "Keynesian...
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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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The most provocative book written by any economist of Keynes's generation, propounding a fundamentally new approach that revolutionised economics.
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