Author: John Maynard Keynes
Synopsis by Kazi Aiman Udoy
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The General Theory of Employment, Interest and Money is broadly viewed as John Maynard Keynes' most significant work. It gives a complete, itemized outline of his theories on macroeconomics, which challenged classical economic theory concerning the benefits of state intervention in financial markets, and prompted far and wide moves in economic theory and government policies worldwide during the next many years.
He contends that the conviction that markets typically tend towards full employment is a misrepresentation and that state interventionism is accordingly essential to defeat economic slumps. This unmistakable and nitty-gritty outline and investigation is an important asset for any individual who needs to comprehend Keynes' earth-shattering book: it includes an intensive clarification of the writer's points, the primary ideas supporting his work, like effective demand and propensity to consume, and the context-oriented foundation to his work, including The Great Depression. It additionally gives a prologue to the down-to-earth uses of Keynesian theory, the principal criticism of his work, and modern expansions of his methodology, giving you all you require to comprehend this powerful book.
This book is the best choice 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. Some pre- established knowledge is required to understand this book thoroughly. It will help you to dig deep into this book.